10 Critical Considerations for Your Next Lease Term - Aaron Weiner

Lease Intelligence – it’s what you need when it’s time to decide whether to remain in your existing building or find new digs that align better with your business operations and future plans; or knowing what is on the table when you negotiate a new lease or renegotiate your existing one.  Here are some words to the wise from Aaron Weiner, Senior Vice President, Bailes & Associates, Inc. www.weinerproperty.com:

  

·         Negotiate when you can use your tenant improvement allowance, not just how much you get.

·         Keep the Permitted Use language flexible to keep your future options open.

·         Building image affects your bottom line big-time, so choose wisely.

·         Look closely at building operating hours.  This affects your bottom line, too.

·         Reset the operating expense base year for lease options and extensions.

·         Negotiate the tenant default language even though it may feel self-incriminating.

·         A location on a high-traffic street is not always better.

·         A good broker can help you present your financial condition – good or not – in the best light to the landlord.

·         Be aware of both sides of the productivity coin when considering creative office space.

·         Every lease contract leaves room for interpretation, so keep a good broker handy who knows the flex points.

 

 

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