The Most Common Leasing Mistakes Made By Office Tenants

by CoyDavidson on September 6, 2009

Leasing office space for your company is a complex process and a significant financial commitment. Here are the most common mistakes made by tenants when securing office space for their business needs:

  1. Beginning the negotiation of a renewal or new lease too late
  2. Lacking clearly defined business or real estate objectives
  3. Focusing exclusively on financial costs
  4. Failing to appoint a project leader as the internal single point of contact
  5. Making inaccurate estimations of the company’s space requirements
  6. Failing to leave enough time at the end of the lease to fulfill “make good obligations”
  7. Acting to slowly once a decision is made, and consequently missing out on opportunities
  8. Agreeing to terms prior to obtaining a space planning perspective
  9. Failing to allow for expansion space
  10. Paying too little attention to exit strategy and lease flexibility when negotiating the lease
  11. Lacking the knowledge of future opportunities; often, the best deals are secured well in advance of the space becoming available
  12. Failing to assemble the entire integrated project team; broker, architect, construction manager, contractor and legal counsel

Next post: