18 Nov What’s the best way to negotiate for a lower rent for my office space?
I have three suggestions for negotiating a lower rent for your office space:
Go with a longer term lease.
Commercial property leases can range from 1 year to 10 years. For a landlord, a shorter lease means that they’ll have to put work and marketing money into finding a new tenant sooner rather than later. This may mean that a shorter term lease is more expensive to account for the legwork needed to re-lease the space when the term is up. If you decide to go with a longer lease, landlords are typically willing to give you a break on your rent and negotiate a lower rate for the peace of mind they’ll get knowing their building will be occupied for a longer time frame.
Make fewer changes when you’re coming in.
When you’re moving into a new office space, you’ll obviously want to make it your own. Sometimes these costs will come out of your pocket up front, but depending on the kind of lease, the landlord may end up covering the cost. Even if the landlord takes care of the upfront cost of upgrades and renovations, those costs add up in the landlord’s bottom line. This is something they consider when setting your rent, and those costs are going to show up somewhere. Making fewer changes when you’re coming in can help keep that bottom line lower and give you more space to negotiate a lower rent for your office space.
This is the best way to negotiate a lower rent for your office space. I’ll take care of negotiations and handle communication with your landlord. This frees you up to oversee other aspects of your business. Plus, this is what I do! So, if you really want the best way to negotiate your lease, hire this guy!