Lease Renewal vs New Location
As your lease expiry date approaches you will be considering your next move. Perhaps your business is outgrowing your current space, you’re considering moving to a different location or you’re hoping to renegotiate the terms of your lease at your existing location.
There are several factors to consider when weighing this decision. What are the current market conditions? Can we negotiate a Landlord incentive or rent reduction? How much will it cost to fulfil your make-good obligations? What is the cost of a fitout at a new location? What locations better equips your business for future growth?
All these elements can cause the lease renewal period to be quite a tense and taxing time, often shifting the focus away from business operations and impacting your productivity (and consequently profitability). Once you engage Liberty Leasing, we carry out the market research, negotiate with landlords and agents and present you with comparison analysis so that you understand your options. After all, if you don’t know your options, you don’t have any.
During the analysis process we audit and value your current lease terms. This is followed by a negotiation with your current Landlord. We renegotiate key terms such as your rent and any particularly onerous provisions. In addition, we negotiate potential incentives to upgrade your fitout.
We carry out this audit in parallel with the alternative location analysis. Only once we know the commercial terms achievable pursuant to each option will we be able engage in a comprehensive comparison.
You can then make a decision on whether you stay or go. This decision is based on real time commercial terms. The result? Delivering your business substantial savings through the power of knowledge and exemplary lease negotiation skills.
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