Why Renew Your Current Office Lease When You Can Renegotiate Instead?

So often we see poorly negotiated and even antiquated clauses in tenant's leases for their office space.  We see clauses that put an unnecessary onus on tenants to perform, or be responsible to perform, certain costly activities in the event of this-or-that occuring.  For instance, does your lease have a restoration clause if you move out?  If it does, it shouldn't.  In today's modern leases, we ensure our clients simply avoid those potential expenses.  Further, many tenant's leases contain a renewal clause.  That clause often stipulates when the renewal must be triggered and what the rent will be upon renewal, etc.  Often, those rates are above current market rental rates and there is absolutely no provision for any inducement for you to to sign.  In todays office leasing market, renewing a lease under such terms can be called irresponsible.  Other questions need to be asked too.  What about modernizing the arbitration process in the event arbitration is required?  This alone can save both landlords and tenants thousands of dollars in the event arbitration becomes necessary.  I'm sure it won't surprise you to know that the landlord's lawyer wrote the lease, and as such the wording is always in favour of the landlord. We're not saying that's a bad thing. We're just saying we point out certain things in leases to ensure our clients are more aware of what they are being asked to sign.  We're also very successful at getting changes introduced into the lease.

Tenant Representatives work on behalf of tenants, not landlords. Experienced brokers who know the details of prior transactions have invaluable resources for office tenants when renegotiating the lease on their existing space.  Whether relocating or renegotiating your current office premises, having other options worthy of your consideration "creates the levers you need" to effectively negotiate with your landlord.  That is where Banfield Office Properties Group comes in again.  We are experts in negotiating office leasing transactions and we are an excellent conduit for you to know your options.

With the construction of the new Manitoba Hydro building well underway, there are great opportunities for existing tenants to renegotiate their lease with favorable terms. An experienced office broker can create the levers necessary to “unlock” those favorable terms.  Timing is a crucial factor in negotiating a successful transaction.  Starting negotiations well ahead of any expiry date is very important.  If we know when your office lease expires, we will supply you with the proper market insight at the right time.  All you need to do is supply us with how many square feet of office space you occupy, and when your lease expires, then we'll contact you at the appropriate time to discuss your lease options.  We will offer you insight into the current market conditions and provide you with assistance in this area.  We are Winnipeg’s leading provider of commercial real estate services.  We know the office market and can be a very valuable resource to you and your company. 

Contact Joe Banfield to assist your organization in making the right decision!