Landlords are experts in managing and leasing their properties. When you, as a tenant, sit down with a landlord to negotiate, you can be certain that they have come to the table armed with information from both in-house and outside real estate professionals. The real estate professionals that work for the building owners and landlords must be licensed and are bound by rules, regulations, and ethics...
Too often, tenants comfortably ensconced in their office space simply forget about their lease until they get a call from the landlord and receive an offer to renew a few months before their lease expiry date. This is a landlords dream – they have a “captive tenant” that does not have enough time to move. Tenants in this situation have very little leverage when negotiating the lease and frequently...
It is always advisable to have an Option To Renew clause written into your office lease. This gives you, the tenant, the right to renew your lease at the end of your existing term. In low vacancy markets this clause can be particularly valuable. Too often we have seen landlords refuse to negotiate with a tenant at the end of their term because the landlord has a new, preferred tenant for their space....
In every offer to lease there should be a clause stating that the offer is conditional upon the review, negotiation, and approval of the landlord’s standard form of lease document. There is a reason for this. An offer to lease covers the basic terms of your agreement with a landlord and these terms will be incorporated into the lease document. However, a commercial lease can be more than a hundred...