Your Landlord may be the best. Many great Landlords exist in each and every market. I especially like those Landlords that give the cool gifts to their tenants every December. However, does it help when you’re renewing your office lease?
A good friend once showed me the custom wood grill set he received from his Landlord. A year later, he emailed me his lease. I looked at his renewal rental rate and had to share with him that the grille set should have been plated in 24 karat gold for the premium he’s paying for the office space he was occupying.
He didn’t realize I had just represented the tenant on the floor below him, That client pays $1.75 less per square foot and moved into brand new space custom designed specifically for them. I watched the corner of his eye wrinkle inward as if he was thinking very hard. The next words out of his mouth were, “That’s $175,000.” I think my own eye crinkled as I quickly did the math in my head and agreed.
I hope every Tenant that we represent occupies a building with a great Landlord. As a matter of fact, we take great pride in connecting great tenants with great Landlords.
When you decide to sell your home do you buy the first one you look at? If you’re ready to purchase a new car, do you just buy the first one you see? A great Landlord will always respect the fact that you are evaluating the market when your lease is up for renewal. Great Landlords want to work with you and your broker to try to put together a new deal. As a result, they will keep you as a tenant, happy. That is who a great Landlord is.
It is your job as a Tenant to know the market, to evaluate all options and feel confident in the decision your making. That is why Found Advisors exists. We are here to help you, whether you’re moving or simply renewing your office lease.