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How to negotiate the best office lease

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Office accommodation is one of the biggest expenses an expanding company has to consider. Every cent counts and negotiating the best deal possible can save your business enough to launch a marketing campaign or perhaps hire extra staff.

Here are a few useful tips that should enable you to get more for less:

Tip 1: Evaluate the permitted uses of the leased space. Are you planning to expand in a few years time? Do you intend on subleasing any of the space to a third party? It’s advisable to ask for an option to be able to sublet the premises in case you have to downsize or move part of your team to another office.

Tip 2: How long is the lease for? It’s generally easier to get discounts and concessions if you plan on signing a long-term contract. However, in the current economic climate you may be able to successfully negotiate a short-term deal with bonuses that would normally only be available to long-term tenants. Always investigate lease renewal terms and conditions, especially if leasing short-term.

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