Commercial Lease Renewal Tips
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Here are five quick tips to remember when renewing your office or industrial lease:
- Get your broker to provide you a market analysis of comparable rates and then negotiate your renewal rate … intelligently
- If you have a Gross Lease, request to move your Base Year/Expense Stop to current in order to avoid excessive pass throughs of expense overages
- Try to get a cap on controllable Landlord expenses of say 5% to 10% per year max
- Be sure you have a First Right of Refusal on any adjacent space to allow for expansion
- If your space needs any updating to meet code or just cosmetic upgrades, now is the time to negotiate that into the renewal at the Landlord’s expense
Looking for Warehouse, Office or other space in Houston or elsewhere? Getting to be time to renew your lease?
Contact the WarehouseFinder.NET Broker Affiliate Network below.
Centermark Commercial Real Estate specializes in Industrial and Office in the Greater Houston area. CCRE is the exclusive affiliate broker for WarehouseFinder.NET in Houston, TX.
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