Office Space for Lease: Negotiate the Best Deal for Your Business
- July 22, 2017
- Posted by: APS Group
- Category: Blog
Choosing the ideal office space for lease in Zirakpur is an important step to ensure the success of your business. And as leasing an office space is one of the major business expenses, you need to know a lot of things. It is situated in Zirakpur at Tricity Trade Tower. This would help you avoid mistakes that could be devastating. Whether you run a small, medium, or large business, best leasing decisions can prove useful for the growth of your company.
This post outlines some important factors to help you navigate easily through the leasing process. Gain More Bargaining Power to Negotiate If you want to gain more bargaining power, knowledge about negotiating a lease is of utmost importance. You should first determine the status of the current local market. Your contract term is affected due to many factors which ultimately influence your negotiation power. Following are some factors:
It is essential to first determine the amount you can afford for the lease payment. Do some comparison to check out the rates of different office spaces. If the rate for a unit seems higher in contrast to others, it is always possible to get a reduction in the rent.
Insufficient space or inability to expand the space is one of the prime reasons that tenants tends to relocate. If you include the right of first offer and first refusal in a lease, it gives you an authority to ask for any vacancies in the building before current occupants. With the right of refusal, you as a current tenant can be the first to see any available space and decide whether that space would be beneficial for your business.
Upgrades or improvements
Unlike a short term lease, in long term lease owners are more than willing to pay for any required upgrades if requested by new occupants. This is because, the owner has the assurance that you’re going to work there for a long time.
Don’t Miss Out on Important Dates
To get the most out of any office space for lease in Zirakpur, you must keep track of crucial dates or deadlines such as lease negotiation deadlines, rent adjustment dates and special event deadlines. Let us briefly discuss the importance associated with these dates:
Lease negotiation deadlines
If you want to get any of the options being offered, you as a tenant have to carefully track the deadlines or you would risk losing out on them. These options include important aspects like renewal, termination and other particulars mentioned in the current office lease.
Rent adjustment dates
Adjustments to the base rent is usually done on a yearly basis. So, you should remember the commencement and termination dates of your lease. Monitor when any adjustment is likely to happen and be prepared to negotiate for the necessary renewal items.
Special event deadlines
Security deposit refund dates, personal guarantee expiration dates, parking availability are some of the special events that have specific deadlines. These event deadlines occur in the way they were negotiated into the current contract.
Do not rush into the things and always start well in advance of any plans to relocate your business. Learn as much as possible about the leasing process. Never feel pressurised and sign a lease too soon, at least not before you have had time to consider perks and fully negotiate a deal. Take your time to understand all of your options and negotiations on the table to determine what can work best for you.
In conclusion, consider the above-discussed things. Give a great deal of thought so that you know the essential tips and tricks to gain some advantages during the leasing process. Looking for an office space available for lease? At Tricity Trade Tower in Zirakpur, you can find the office space for lease in Zirakpur your business needs.
For any questions or concerns, please call us at +91 9569300400.