What Do You Need to be Thinking About
Before the Move?
In most cases, the sweetest music a broker could hear is the sound of a tenant calling to say their lease is up in one month and they need to move. After all, here's a motivated tenant and a sure payday. On the other hand, the reality is that such a move usually leads to bad results. Anyone who has negotiated anything should know that time is either your best friend, or your worst enemy.
Most tenants, particularly smaller firms, usually wait for the landlord to send them some notice that their lease is expiring in six months before they start to evaluate their needs. A second wake-up call comes from the hundreds of "cold calling" brokers who pride themselves on knowing the commencement and expiration date of every lease in the geographical area they cover.
Although we strongly recommend tenants continually monitor their real estate needs, we recommend they start the evaluation period a minimum of eighteen months prior to expiration. This way, you are assured that at the time you have to notify the landlord of your desire to extend or renew; you will have a solid idea of what you really need in terms of facilities for the coming year.
Moving not only includes determining your needs, but also means a lot of planning and preparation once those needs are hammered out. We offer a simple list of things to think about and when to start thinking about them. We’d be happy to e-mail them to you. Just contact us at email@example.com.