Renewing your lease may be the most sensible and desired solution for your company. If so, it is advantageous for you to have representation during this process, as landlords typically employ a building agent to negotiate on their behalf. Hiring representation for your lease renewal sends the message to your landlord that you are performing your due diligence, exploring all possible options and familiarizing yourself with current market conditions.
Achieve Competitive Renewal Terms
A key component to competitive renewal terms is to engage the process early so that you are not viewed as a “captured tenant” by the landlord. The process is as follows:
After meeting with our team to discuss your objectives and weigh all outcomes, a formal letter is sent to your landlord announcing your partnership with Capstone Realty Advisors, Inc.
We examine deal comps within your surrounding neighborhood and the vacancy rate within your current building to ensure that the renewal rate is at fair market value.
A cost-benefit analysis is done to disclose the benefit to the landlord of keeping an existing tenant vs. obtaining a new tenant.
While the goal of a renewal is to remain in your current space, we still identify comparable space options in order to leverage the best possible deal.