4 Signs Office Space Will Be Cheap To Rent

4 Signs Office Space Will Be Cheap To Rent

on May 23, 2018 in Small business

The business is growing in every way possible, but the current lease is stuck in the mud. The problem with long-term leases is the lack of flexibility. Unless you pay out the remainder of the contract, there are few options to break the agreement. So, you’re on the lookout for new office space and don’t want to make the same mistake. This time, the rent will be cheaper and the contract shorter. Of course, landlords want to charge a premium because they want a high return on investment. This often puts both parties at odds, but here are the signs you will come out on top.


 

Building Work

Diggers and men and women in hard hats are nothing new. After all, the new offices may be coming soon and could well be under construction. Building work, then, is going to be hard to miss and isn’t a good sign at all, is it? It depends on the type of work they are constructing. To the naked eye, it seems as if everything is going to plan but the owner may be papering over the cracks. This page will provide more info, but if you see aggregate piers then you should keep it in mind. APs are used to strengthen ground so there is a chance of foundational damage, and that should take a chunk off the monthly amount.

 

Length Of Deal

When you are at the negotiating table, the landlord will tip his/her hand. At some point, they will ask you how long you want to rent the property. Your response is an indicator of their preferences. The trick is to go short and gauge their body language. If they openly say “no, I need a longer lease,” then you know for certain that they are looking for something long-term. This nugget of information may save you a small fortune because a longer deal should be cheaper. Let them protest, but the reality is they would rather have payment security than a couple of extra dollars.

 

The State Of The Market

Everything may seem hunky dory until you realize that you’re overpaying. How can you figure this out? The amount other renters pay is a clear indication. Yes, there are different factors to consider, but a similar size office in the same location should be about the same cost. Other landlords who are accepting less rent are like knights in shining armour. All you have to do is tell your landlord that you want to slash the amount, and, when they say no, tell them you’re leaving and going elsewhere.

 

No, But Yes, But No

A lowball figure will inevitably end up getting a “no.” Don’t take this as the gospel truth though because people change their minds. It’s part of the process, and this post can help. A clear sign they are weakening to the idea is when they come back with a counteroffer. In the beginning, it was a definite no, and now it’s a maybe. Further on down the line, it will be a “do we have a deal?”

 

Keep your eyes peeled for these signs the next time you negotiate a rental agreement

 

Image credit: Pixabay.com

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