Once again, I have to tell you to please not wait too long to start your office lease negotiations. I am working with a couple of companies that want to occupy by September 1st – and we just started the process about a week or two ago. It makes a sometimes stressful process even more stressful. There are occasions when a short timeline cannot be helped, but oftentimes, it is directly related to that dread disease, procrastination. At this point, the tenant loses a great deal of negotiating leverage on lease terms and forget about moving walls or getting the space modified to perfectly suit their needs – throw some paint on the wall and shampoo the carpet!
The greatest leverage that your existing landlord has is time. They love a ticking clock because they know how long it takes for you to move. Your landlord knows that typically over 75% of its tenants will renew their leases. Your landlord also knows exactly how long it takes to construct a new space and physically move. If you start looking for another space 30 days before your lease expires, you could either be stuck with just renewing or, even worse, paying double rent as you finalize your lease for the new location. Yes, Florida law allows commercial landlords to charge double rent when you occupy past your expiration date.
It’s never too early to start mapping out your strategy and preparing a timeline for your renewal process. That’s what I do every day, so let me help you level the playing field with your landlord. If your lease is expiring in two years or less, call me at 305.753.5435 or email me for a free lease analysis.
