Is your office space lease up for renewal? If so, you most likely have a renewal deadline to provide the Landlord your decision to exercise your “Option to Renew” your lease or relocate your office. How do you decide if you should renew your lease or relocate? We provide lease renewal assistance in Tampa, FL, taking our clients through a discovery process to identify if renewing and potentially restructuring their lease is the right move.

First step is to assess how your office is impacting your company now and for the next 5 years. Below are a few questions to ask when deciding your Tampa office lease renewal:

  • How does the location impact your employees? Is the office easily accessible for clients?
  • Is there room for future growth?
  • Do you have an inefficient floor plan? Is there wasted space?

Accessing the market is key to ensuring you are getting the best deal as possible. Competing Landlords in the area could deliver the floor plan you need but in a more efficient space, decreasing your office size and potentially your rent.

If you do decide to renew you lease, secondly you want to evaluate if there are items that need addressed. The Broker who represents the Landlord fiduciary relationship is with representing the best interest of the Landlord. The renewal will be in the Landlord’s best interest not yours, unless you present items to be addressed and negotiated as part of the renewal.

Neglecting to negotiate your office space lease renewal leaves money on the table.

 Below are a few items:

  • Do the carpets need cleaned?
  • Repainting interior of the office?
  • Does a door or wall need to be added?

Lastly, our team reviews your current lease to pinpoint areas that could be renegotiated in your favor during the renewal and restructuring of your lease.