There are so many different costs associated with an office lease outside of the base rent. Many of these can add up to real dollars! It is important to know what is going into your office lease. This is for two reasons: 1) so that you can make an apples-to-apples comparison when considering the space that works for you 2) to understand what your costs are upfront so there are no surprises once you have signed a lease.
Today I want to address electricity because if negotiated incorrectly, it could be a profit center for the landlord. There are going to be situations where some of these are not available, but it’s better to be an educated consumer and ask, rather than assume what is proposed to you is the only option.
There are three options for electricity. These include ERIF, Submetering, and Direct Metering — only one of these is not a moneymaker for your landlord. So, let’s get into it.
Your lease renewal is Worth A LOT! A lease renewal is seen as the path of least resistance for many companies, as it removes the potential disruptions associated with a move, from a change of address to the associated costs, and everything in between. It is important to remember that it is the best option […]
This real estate headlines say it all: “Manhattan Office Vacancies Soar to a Record With Leasing Frozen.” And, with many companies uncomfortable asking their employees to return, it has left a massive problem for many of them. What to do with office space you are not using, but are paying for? For many, the first step was reaching […]
Now more than ever, tenants are choosing to renew, rather than relocate, their offices. The mistake that many companies make is that they think renewal is not a negotiation. At its core, your lease is a financial commitment that your company is making. It is your right to negotiate the critical financial terms because they […]
Are you thinking of subleasing office space? If so, it is a great time to consider sublease space in New York City. One of the top benefits of subleasing is lower office rent. By subleasing, you will (almost) always get a better price than if you were to enter into a direct lease with the […]