Step 6: Evaluate Your Alternatives

All good landlords talk to tenants like each is a valuable member of the "family" of tenants in the building. Don’t confuse this with getting the best deal for your company.

Do you know what time it is!

Is it time to win a renewal option; a right to cancel your lease; get a reduction in your rental rate; re-measure your space to pay for less without giving anything up; change your base year for calculating operating expenses & taxes; get free remodeling; or just free rent? All of these are tied to the Fair Market Value of your space. In a soft market, you are unlikely to determine FMV by just talking to your landlord. You must evaluate your alternatives to have any measure of what your current space should cost. If ever there is a time when you must explore your alternatives….NOW IS THE TIME.

Space Availability Report
A clear, concise report that illustrates space currently being publicly marketed within your size range and location.

Market Statistics
Find out information about vacancy and average rent in your city, market or class of building.

Office Space Cost Estimator
A simple tool that estimates the total and average lease costs over your desired term, illustrating the surprising variance that is possible resulting from market conditions, negotiations, space planning and building types.

Employee Map
A valuable tool to help you quantify hiring trends and commute times and identify potential alternative locations.

Building Accommodation Report
A side-by-side worksheet tool used to compare building features.

Financial Analysis
A clear illustration of the detailed costs and expenses over a lease term broken down into line items, annual and aggregate totals for current obligations, future budgeting and comparing prospective lease options.

Timeline
Understand your management progression process and calculate a typical relocation process timeline.

Start-up Costs/Budgeting
An explanation of cost categories tenants should be mindful of when considering relocation.

CPI Calculator
Find out the latest information on the Consumer Price Index if your renewal option/rents incorporate inflation into the original rental rate.

Alterations – Who Pays?
Understand the initial costs for tenant improvements that are typically amortized over the term of a lease – whether the Landlord pays or Tenant does the work on their own.

Helpful Resources
Browse our comprehensive contact list of attorneys, architects, contractors, IT companies, security and more.