You’re one of the fortunate ones in today’s economy. Your business is growing. And thanks to the current status of the real estate market, the tenant is in the driver’s seat. However, be careful. Tenants who need to expand, with time remaining on their lease, represent one of the few cases in this type of market where the landlord has some leverage. Here are 10 issues you should consider during office expansion. 

1) Relocating in the same building

Your current landlord may be able to accommodate your growth. Location can be vital in terms of keeping your employees by maintaining the same commute, and it can also lock in some of the amenities you currently enjoy.

2) Buyout of your current lease

Though unlikely, it’s worth trying to negotiate a buyout of your current lease so you can relocate to another building.  Talk to the adjacent tenants.  Do they need space?  If the landlord is interested in negotiating a buyout, he probably has someone else in mind. 

10 Clauses to Consider When Reviewing a Lease

Commercial leases can be extremely complex, but by analyzing certain common clauses, potential tenants can ensure a favorable lease for their organization. Here are 10 key components to evaluate when reviewing a lease.

1) Base rent clauses

Rental rates, the focus of most negotiations, represent the most direct monetary aspect of a lease. Tenants can negotiate for periods of free rent even when a landlord refuses to lower the basic monthly rent – which can greatly reduce the average rent rates over a lease term. 

10 Ways to Approach Lease Renewal

Negotiating a favorable lease renewal can provide flexibility, improve operations and result in substantial long-term savings. Here are 10 ways to get a good deal by using your existing leverage. 

1. Avoid the approach, “it’s only a renewal.”

More than any other, this attitude helps the landlord keep an existing tenant without offering anything material in exchange. The landlord avoids “market concessions” such as lower base rent, free rent or facility upgrades if you fail to ask for them.

2. Determine the future plans of other tenants in your building.

You must discern your landlord’s goals and motivation. To do so, leasing plans by other tenants should be investigated. If the building will be half-empty in six months, your negotiating position will be stronger. If other tenants are expanding, space will become more expensive. 

10 Advantages in Searching for Office Space in Today's Economy

10 Reasons to Use an Architect for a Commercial Relocation

Many commercial tenants search for new office space with pre-determined concepts. Here are 10 reasons to break that mold by enlisting the services of a professional architect:

1. Architects can reduce your square footage requirements.

Workplace configurations and build-out options need to be considered for any new headquarters. Architects know the limitations and opportunities for any office space you are considering. By making the most out of your office, and thus reducing square footage needs, they can save you money over the entire life of your lease.

2. Architects will consider the nature of your business.

For example, legal firms require more perimeter offices (with a window!) to satisfy their partners and senior colleagues. If your company holds frequent meetings, then you may wish to arrange for more conference or huddle rooms.