We all know, the cornerstone of any successful business is its people. Keeping them engaged and productive, happy and healthy is not just a task for HR or management, but a job largely addressed by real estate.
So, why do organizations lose sights of opportunities to advance business in this regard? The answer is largely tied to office leases, viewed as projects that happen once or twice a decade.
More than 70% of tenants renew their lease when the initial term expires. Landlords know this — and they depend on it for profit. But, shouldn’t you come out ahead?
Both relocation and lease renewal scenarios present opportunities and challenges. When a space works well for a company, most tenants stay and end up paying premiums on their renewal to avoid moving, buildout and other associated costs. But, why shouldn’t you be incentivized to renew?
These renewals should not be windfalls to landlords but instead rewards to tenants for the value they provide. Check out this video on Lease Economics.
Regardless of your real estate plans, you should understand the costs and savings opportunities associated with your current and future lease. We would like to help you get there.
How much money could you save with a new lease? Contact us for the answers.