The office space is the reflection of your business. So, when your clients visit your office, they check your professionalism and judge things accordingly. The office space also defines the work environment of your company. So, getting the best office space for you to purchase can both be a costly and time-consuming endeavour. This is the reason why getting Office Space For Lease In Sydney is undoubtedly the best option for businesses to set up or expand.
These days, most companies focus on getting leased office spaces as these spaces offer a range of benefits like:
Lower monthly occupancy cost
Reduced move-in costs
Hassle-free move in
Easy to find the location of your preference
Greater financial and strategic flexibility
Conveniently shared spaces
Ability to retain more working capital
Professional spaces that convey professional images of the companies
But leasing an office space is not a cakewalk. The leverage you would get entirely depends on your ability to negotiate. So, in this blog, you will find some tips to help you be more lease savvy and to bag the best deal on getting office space for lease in Sydney.
Research and homework: This is the first step to begin. Do your homework and find out whether other companies are also vying for the same space you are looking for? Has been the space vacant for a long period? Consider these factors as these can make a difference between calling the shots or the landlord insisting on some difficult terms throughout the leasing process.
Find out the length of the lease term: Often landlords make concessions for long-term leases. But you may not want to lease the space for that long time. So, you must negotiate the shorter-term lease with renewal options.
Tenant improvements: The new office space may need some alteration or improvement. But most leases come with the agreement that tenants can’t make any improvements or alterations without the consent of the landlord. So, you must negotiate the “tenant improvement allowance” while getting office space for lease in Sydney. Here the landlord will offer you a certain amount of money for the alterations and improvements that you want to the property.
Escalation of rent: Some landlords offer free rent for the first one or two months of the lease. But fixed-rate over the long-term releases is rare. So, if the landlord insists on escalating the rent, arrange for the Consumer Price Index rent increase, which does not kick in for the minimum of the first two years of the leasing term. After that, try to get caps on the increased lease amount.
Shop around and compare the lease rates: This is another important tip to consider. And while shopping around, just compare apples to apples to get the best deals.
Work with a tenant broker: A good tenant broker can always help you to represent the best interests of your company when taking a lease. He can educate you on the present status of the market, locate areas best for your needs, arrange office visits, negotiate with the landlords, and can prepare offer letters.
Comments
Post a Comment