More time=More leverage,More opportunities in a “tight” or “soft” office market

Time can be your best friend or worst enemy.  This is especially true when it comes time to renegotiate an office lease. Either landlord broker will come two years before your lease expires to renew a deal, or they will wait a until the expiration date is right over your shoulder before trying to work a deal.   In either case, any good Tenant Rep broker should be advising that you take at least one full year to take a good hard look at the market before getting a deal done.

A great first step in positioning yourself as a tenant to negotiate/renegotiate a lease is to hire an experienced Tenant Rep broker at least one year before the lease expiration date.  Starting early will allows the tenant to  control the clock instead of the landlord.  An experienced broker should lay out a timeline or some sort of gameplan on how to “attack” the market, gather options, educate the client, ect. so that the tenant is able to make select the option that fits the highest and best use for their business model and industry.

Less Time = Lost opportunities for tenant, Increased leverage for landlord

More Time = More market opportunities revealed, Increased leverage for the tenant (and a happier, less stressed tenant!)