TIME TO DUST OFF THOSE LEASES
18 Jul 2019
The market for commercial real estate is looking good, particularly for office space. For many years, owners have agreed to tenant-friendly clauses in leases to get deals done. It's time to dust off those leases and look to take advantage of the stronger market.
One example is options. Options only benefit the tenant and yet we see leases with a string of options for the tenant to renew. Sure, if a tenant is spending serious money on fit-out, they may need one option but not a number.
Another area is outgoings. Are you recovering all outgoings, just increases or nothing?
Making good at the end of a lease can be very expensive. Who pays under your current lease?
We negotiate leases all day, every day. Call Sam on 0419 747 440 if you need some help.