Evaluate annually at a minimum
Most organizations review their employees’ compensation annually at a minimum. Typically, an office lease is the second largest expense for most organizations and should be evaluated at least annually.
You can renegotiate anytime
The goal of a lease for the tenant is to match their business plan as closely as possible and provide for changes in the plan as, and when, needed.
Utilize the best practices from other industries
In the 1950s and '60s homeowners would sign a mortgage and make the same payment for 30 years. Today everyone refinances (renegotiates) their mortgage as soon as any positive fluctuation in the market occurs. The professionals at Tenant Consulting have been renegotiating leases since 2002 and are prepared to put their experience to work for you.
Always retain the ability (time) to build-out new space
Negotiating any potential restructure with your existing landlord must be done while allowing adequate time to negotiate, finalize the lease, design, permit, bid-out construction and construct space (18 – 24 months at a minimum). If your landlord knows you don’t have time to move, why should they work hard to keep you?