Negotiations

How to negotiate the best office space lease

You’ve found a few good spaces you like; now the objective is to obtain the best deal possible.   Ideally, more than one of these spaces is exciting for you so that you can hedge them against each other to maximize your negotiating leverage.  If ther...

How to Renew an Office Lease

Lease renewals are more common than you might think-- in fact, they tend to happen 70 percent of the time. While tenants may be excited that they have avoided the cost and trouble of relocating, landlords are often just as pleased... and likely expecting...

Incorporating Flexibility into Long-Term Leases

Given the fact that most office lease agreements can run anywhere from three to 15 years, it is often essential for a company to build some flexibility into a long term lease, in case market and economic fluctuations demand an unexpected relocation or...

Lease negotiation checklist

Leasing office space is a big decision. And if you make a mistake, it can cost you dearly. That's why it's so important to create a checklist of factors to consider when leasing an office. It's impossible to list all that you should know before...

Letter of Intent

Shakespeare wrote “To be or not to be, that is the question.” In doing a real estate lease, a tenant should ask, “To put in the letter of intent, or wait for the lease?” One of the common mistakes I often encounter is clients wanting to rush prematurely to get ...

Maximize Your Advantage in Negotiating an Office Lease

While the last several years have seen a shift towards a more tenant-friendly market, things are slowly but surely swinging back toward a point of equilibrium, meaning that they may well move back in favor of landlords. Tenants looking to find a new office...

Negotiating the Ideal Renewal Option

A renewal option in a lease is of enormous asset to a tenant. These clauses, which allow a tenant to extend a lease after the initial term has matured, give tenants a much easier way to re-negotiate when the time for renewal approaches. Understanding...

Should You Negotiate Your Office Lease on Your Own?

Many business owners feel confident (and rightly so) that they know more about the ins and outs of their business than anyone. Making autonomous business decisions can be readily done by business owners in many milieus, but not necessarily in the world...

Tenant Improvement Allowance -- Negotiating the Best Deal

Negotiating the tenant improvement allowance in a lease can be one of the most central and high-stakes elements of lease negotiations. This allowance provides tenants with funds for retrofitting or renovating an office space to their specifications. Not...

Assignments, Sublets, and Their Importance in Commercial Leases

Every once in awhile, a tenant needs to leave a space before the maturation of the lease term. Various factors such as market fluctuations or force majeure events can force you and your business to evacuate a space early. In order to prepare for this...

Determining the Best Length Term in a Lease

When relocating and negotiating a new lease, there are several long-term factors that must be considered, not the least of which is the length term of the lease. Office leases typically run anywhere from three years to 15 years, with smaller shops skewing...

Effective Negotiation Techniques When Renewing a Lease

Renewing an office lease is a tenuous process and one that often has the tenant at a disadvantage. Remember, your landlord is a seasoned player— he or she negotiates regularly, whereas you negotiate once every 3 to 10 years. Moreover, a landlord can b...

How Does the Good Guy Clause Work in NYC

A GGC holds a tenant (the Good Guy or Gal) personally responsible for making rent, even after their company has failed. However, if the tenant gives the landlord notice (usually within 30-180 days), they can be released of this responsibility.

How Does an Office Lease Offer Letter Work?

An office lease offer letter has been called a meeting of the minds, an agreement to agree, even an "engagement" in the courtship process between tenant and landlord.