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3 tips for negotiating your commercial lease renewal

A Florida commercial lease may last several years, and over that time, you may find that there are certain things about your commercial rental that no longer serve your needs. Because commercial lease renewals terms may require you to sign back on to the commercial space for a lengthy amount of time, it is important that you make any requests or proposals about the space before you agree to renew and resign the lease.

According to Jones Lang LaSalle, it may help your cause and improve the chances of you getting what you ask for during lease renewal negotiations if you do the following.

Start early

Consider starting commercial lease renewal negotiations long before your lease term ends. Ideally, give yourself at least six months to negotiate. That way, if things fail to go your way, you still have time to look for a different commercial rental somewhere else.

Know your market

Positioning yourself as a well-informed buyer should work in your favor. For starters, it shows your landlord that you are aware that other options exist and that you plan to take advantage of whatever option is going to serve your needs most favorably.

Assess your current space

If you noticed during your time in your existing commercial space that it needs new technologies or a better configuration, among other possible examples, now is the time to make your landlord aware of these issues – and give him or her time to consider finding a solution.

Even if you are relatively pleased with your current rental, take a good, hard look at your existing space and consider what else it could do for you before deciding to renew your current lease.

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