If the end of your lease term is approaching and you are thinking about renewing your lease, you will want to have a game plan for negotiations. Here are some things to consider when going into negotiations, as suggested in the article, Eight Tips for Negotiating an Office Lease Renewal:
# 1 Begin Negotiations Early
It is important to begin this process early to give yourself time to research, negotiate, and move if necessary. Plan to give yourself 9-12 months, which will allow time for looking into other spaces and entering negotiations with a few potential landlords. If you start this early, you will still allow yourself a comfortable 2-4 months to move if need be.
#2 Develop Good Relationships with Your Landlord
This goes along with starting early: be conscious throughout your tenancy of your relationship with your landlord. It is a basic good business practice, but it is worth reiterating. Addressing any issues that come up respectfully and cordially will ultimately contribute to your landlord’s impression of you as a tenant as he or she is considering your renewal proposition.
Be aware throughout your lease term of the possibility of renewal so that you can lay the groundwork for negotiations early!