IMPROVING YOUR BOTTOM LINE
Companies today are focused on maintaining their customer base, preserving revenue, controlling costs and increasing their bottom line. If they are leasing space, help may be available from an unexpected source – the landlord.
Landlords in many markets are not only competing to attract new tenants to their empty space, they are also in competition with their existing tenants, as reductions in staff make more companies anxious to sublet their surplus space to preserve capital.
As vacancy rates edge up during the current economic slowdown, lease costs have come down, with many landlords aggressively seeking to lease space to tenants with good credit. Landlords are offering such concessions as generous tenant improvement allowances, free rent, and in some cases more liberal lease terms not seen in many years. Existing tenants need not endure above-market rents for the remainder of their lease term. With the help of an experienced tenant representative, the right timing and specific market knowledge, an existing tenant can develop leverage to renegotiate rent, re-set base year expenses and re-write restrictive rights in the lease that may now favor the landlord.
Give us a call at (617)886-9300 to arrange a no-cost review of your existing lease to determine if it is the right time to renew, renegotiate, or look for alternative opportunities. Even if your lease is not up for a couple of years, there may still be room to reduce your overhead and improve your bottom line.