Lease Renewal Negotiations
We never represent landlords, we solely represent your business interests.
In many situations, renewing your existing leased industrial or office space may be your preferred option. The current building location might suit your employees and clients, and your existing space may work well for your business. Additionally, renewing your lease may prevent disruptions that often accompany relocating a company.
Questions to Ask
How do you know about other options available in the marketplace, and confirm that you're getting a competitive lease renewal rate from your Landlord?
How do you proceed if you need additional (or less) space when renewing your current lease?
How will you negotiate a competitive lease renewal package with an adequate Tenant Improvement (TI) Allowance to update your space with new carpet, paint or to make other necessary alterations?
Surprisingly, in many cases, the Landlord’s renewal rates and terms offered to its existing Tenants may be less attractive than the rates and terms offered to new Tenants! This is because Landlords know that, statistically, the majority of Tenants prefer not to move, and that many Tenants assume their Landlord will give them a “fair deal.”
Negotiate Boulder and Denver Office Lease Renewals
Achieving Your Best Deal
When you renew your lease, the Landlord typically spends much less on TIs when compared to a new Tenant. The TI allowances provided to new Tenants can be significant, because new Tenants often require major reconfigurations to a space, as well as updates to carpet, paint, lighting and other finishes. However, if you don’t need this level of build-out, the renewal rate offered to you by your current Landlord should reflect these lower costs. Additionally, your lease renewal means the Landlord will not suffer any uncertainty or loss of rents. The key to maximizing your leverage in this situation is to create a competitive environment, forcing your Landlord to make a renewal offer that recognizes the benefits your tenancy. Lower costs and lower risk (of vacancy) should translate into lower renewal rates for you!
Benefits of Skilled Representation for a Lease Renewal
Landlords often discourage existing Tenants from seeking competent representation when it’s time to discuss a Lease Renewal. Guidance brokers have extensive experience successfully negotiating Denver lease renewals and expansions. We will develop a competitive environment making sure that your Landlord will compete for your business. And we accomplish this in a professional manner that does not damage your relationship with your Landlord. Additionally, in almost every case, your Landlord will pay our fees, just as they will pay the fees of a broker representing a new Tenant.
“They don’t want a Tenant’s broker to create this competitive environment. However, this is exactly where Guidance brokers excel! ”
Norman S. DeHart –
Principal and Managing Broker
Prima Energy Corporation
In less than two months they located our space, aided in negotiating the lease and made sure that the necessary build-out was completed in time to accommodate our move-in date.
We met with Prima Energy for the first time on September 1st. They had a 90-day deadline to expand or relocate, and we helped them relocate to their new offices by December 1st.
You’ve been a good Tenant, faithfully paying your rent every month.
Don’t you want to be treated with the same consideration as a new Tenant?
Contact Us about a Lease Renewal in Colorado or to discuss your situation and to discover our approach for achieving your Denver Lease Renewal and/or expansion goals.
Related Tenant Services
Guidance only represents tenants and buyers. We don’t accept listings from Landlords or sellers.
A Tenant may wish to consider a Base Year Lease Audit of the Landlord’s Base Year costs, as well as Lease Audits of subsequent years’ operating expense costs.
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