What Are Ways Tenants Can Save Money on Their Lease?
The most obvious way in which tenants are able to save money on their lease NYC office space is through negotiating the terms of the lease. The issue with this approach is that for the majority of tenants, negotiating with the landlord on one's own is usually catastrophic. This is due to the fact that landlords typically know more about commercial real estate than the average prospective tenant. To deal with the lease terms and negotiations would steal valuable focus away from what truly matters, that being one’s own business which requires the utmost attention.
The partnering with a tenant broker usually saves prospecting clients the most off their lease expense. Tenant brokers are typically experienced at negotiating the specified lease agreement into the favor of the tenant. Tenant brokers are unique in that regard. Most brokers either represent only the landlord, or a consortium of both tenant and landlord. What this means is that dual representation brokers or landlord brokers do not have the tenant's best interests exclusively in mind.
Therefore to answer the question, the best way prospecting tenants can save money on their lease agreement is to partner with a component tenant broker who can negotiate the lease term into the favor of the tenant. With the right representation expect to see savings off your total lease expense ranging from 10% to 15%. The important fact to remember is that most leases can be negotiated, which is good news for prospecting tenants.