Office space is considered one of the biggest expenses any growing company incurs. Being able to negotiate a good lease will help a business save money and give them capital to hire new employees or launch an all new marketing campaign. However, there’s no “standard” lease, so it’s a good idea to use the tips here to get favorable terms on an office lease in Newnan GA.
The Length of the Lease
Most landlords are willing to make certain concessions for a longer-term lease. However, as a company’s needs change, and a business finds they are locked into a lease that is too big or too small, or if the rent is above-market, they may discover they need to make changes that are virtually impossible. As a result, it’s a good idea to try to negotiate a shorter lease term with the option to renew.
Tenant Improvements
Sometimes when a business owner signs a new office lease in Newnan GA, they are going to find that the building needs some alterations or improvements. Who is going to cover the costs of these improvements? This is dependent on how tight the market is for office space in the area.
Most leases dictate that tenants aren’t allowed to make any improvements or alterations without consent from the landlord. It’s a good idea to negotiate with the landlord that provides consent to make changes, as needed.
Rent or Rent Escalations
There are some landlords that will provide free rent for the initial month or two. A fixed rent amount for longer term leases is something that’s relatively rare. In some cases, landlords insist on regular increases based on the CPI. If a landlord insists on this, try to arrange for CPI rent increases that don’t kick in for approximately two years.
Don’t underestimate the benefits offered by negotiating an office lease before signing it. Doing so is going to pay off and help ensure that favorable terms are received. More information about negotiating an office lease can be found by taking the time to contact us and to learn more about the options available.