REoptimizer^® Blog

If your commercial lease is coming to an end in the near future, it's vital that you begin to consider what course your business will take. Like initial leases, commercial lease renewals are complex and must be approached carefully. To assume the best outcome for your company, avoid making these all too common mistakes.

An office lease is a long-term commitment. The initial term can easily last from five to ten years, but that's just the beginning. Since spaces are expensive to configure, moving addresses is a challenging process that involves additional cost and complexity, and the future is unclear, it's usually in your best interest to choose a space that you CAN stay in well beyond your lease's expiration date, even if you decide to leave. With this in mind, it's really important to get the right space on the right terms. Here are six ways that you can avoid signing the wrong office lease.

Commercial real estate is quite different from a residential real estate market. Hence, it is essential to pay attention to the various clauses, nuances and other factors that will help you avoid making mistakes when you sign the office lease. In this article, we are going to discuss the major things that you should be aware of in your office lease.

Even for the most well-established companies, it is never possible to predict the future with complete accuracy. Unforeseeable economic downturns can lead to financial burdens, and opportunities for growth may emerge unexpectedly. Rapidly developing technology can even impact companies, shifting priorities, making certain jobs redundant or allowing key business functions to be relocated. Because so much is unpredictable, flexibility is of the utmost importance for commercial leases. The following tips can help you get the most flexible office lease possible to future-proof your business.

If you've signed an office lease, you know that your rent isn't really your rent. In some buildings, you pay operating costs on top of your rent. You're probably aware of the load factor that makes you pay for your office space and for what the landlord considers your "fair" share of the common areas of the building. And you might also have to pay for parking. But there could be even more hidden costs lurking in your office lease.  Work with your tenant representative to see if you could be on the hook for any of these five additional expenses.

Commercial leases are lengthy, complex documents, but you can't afford to simply skim them. Thoroughly reading your lease and having confusing clauses clarified is essential to ensuring that you get a fair deal. Here are some important clauses to look for:

When the pressure to complete the leasing process is high, you're likely to find yourself anxious to sign; however, doing so too quickly can lead to hidden costs and hassles in the future. Asking these questions before you sign can help to ensure that you're getting the best deal.