One of the most challenging things for small business owners in regard to their office leases to address is that of renewal. This is usually a time when budgets are realigned, current and future space needs are considered, and sleep is lost. With SwiftLease, your renewal will be just another day for you as our leasing experts will work on your behalf to ease the stress.
Here are a few things to consider when renewals come up
- Reviewing your current lease document at and most importantly prior to renewal is always advised as well, since there is almost always language on notice period and your renewal options. We can help you make sense of these terms and put you and your business in the best place to negotiate.
- Renewal dates are at a set point in the future. This allows you time to review your current space and see if it still meets your needs before you are forced to make hasty choices about staying or looking elsewhere. Set a meeting with key decision makers at around 120 days out from renewal to evaluate your current space and your growth plan. If the two don’t match up, we can help you look at alternatives.
- If the space you’re in isn’t going to be viable long term, engage us early, so we can start looking at new options for you that meet your budget. Start early! Similar to buying a car, you don’t want to be forced into making a uninformed, or forced choice because of timing.
- Make sure that the length of term on your next lease fits both your space needs now and at the potential lease’s end. Nothing is worse than signing a renewal or new lease only to realize that you’ve not accounted for your growth and will now be forced to cram extra employees into your work space. Worse yet, some of these potential employees may not even want to join you due to your lack of adequate space for them.
Finally, don’t forget that you have someone in your corner to help you navigate through the stresses of renewal. At SwiftLease, we are the experts in lease negotiations. Contact us today!