Learning a little about negotiating leases is an essential part of step in finding a new office rental space. Here are some tips to help you navigate the process:
5. Rules and regulations. The most forgotten part of leases is the rules and regulations section, but the smart tenant, broker, and attorney will always go over the entire lease. A lot of people skip the rules and regulations section because it mostly consists of non-issues such as “no pets” or “no sales.” However, this section could have some issues that actually do pertain to you as a tenant, such as building hours or rules about cooking in your suite.
6. Cost-pass-throughs. If your business is moving into a partially occupied or new building, protect yourself from the problems of moving to a building that takes a while to lease up. Add some protection to the Cost-pass-through provision in your lease by ensuring that your landlord is required to base your annual cost-pass-through upon a 90-95% occupied building.
It is hard to keep track of all of the details you need to remember when negotiating a lease, but doing a little research beforehand will help you have a better idea of what you need to consider.