The ability to negotiate commercial Plano office space leases is dependent on the location demand and current economic conditions. With the economy in a downturn, more properties than ever are sitting empty with property owners anxious to get tenants into such buildings, even at a reduced monthly rate. It certainly is a renter’s market, so chances are pretty high that some kind of deal can be arranged to benefit both parties.
Commercial leases can be negotiated in a number of ways, including bartering for services for reduced rates; tenant improvement contracts; and negotiation of a rental price based on square footage. Although the latter is usually is less likely to be negotiable, in a poor economy this may be the only way to get buildings occupied.
If there ever was a time to relocate a business into a new office space or negotiate an upcoming lease renewal, this would be the time to do it. Once the economy begins to improve, all of these great possibilities will begin to disappear.
Once a company’s needs and budget have been defined, the search for new space can begin. A good first step would be to compare lease prices in similar area buildings to have a point of reference on an initially-advertised price.
Finding Plano office space in a desired location at a price higher than comparable area buildings could bring the price down when pointed out. It could also help to indicated details that may be desirable to an owner but offers little to a business and could allow for some flexibility.
When approaching the subject of negotiation based on the square footage of commercial property, the less changes required in terms of the building itself will increase the ability for the lease price to be lowered. A laundry list of needs going into discussions could be viewed as the sole negotiation point, in which case there is less likely to be any room for discussing the lease rate. It is unlikely for a list of wants and needs to be considered as well as a request to lower the price per square foot.
Actually getting a price lowered will take some discussion and might be better done by a real estate professional who knows how the process functions. Tactics could include: alluding to the length of time a building has been empty; agreeing to a certain lease length; missing or non-working features that will need to be provided; and offering to eventually rent the entire building in exchange for a lower current rate.
If a property owner is serious about leasing a Plano office space, it may be possible to walk away with quite a bit of savings. Every situation and building will be different and will require different handling to reach a compromised dollar amount. The best way to achieve good results is to: become well-educated on properties in a certain location; obtain negotiating help if necessary; and make an offer that hopefully cannot be refused by a hungry property owner!