Add Flexibility Into Your Next Monroe Office Lease
When looking in to a lease agreement, long-term leases tend to rule the Monroe office space. 3-15 years is typically the normal amount you can expect, while thinking of your actual business beyond a 2-3 year span can make for a little hectic of a time. Determining future space requirements when you sign a long term agreement may not be the easiest thing to do, especially if you are in the beginning stages of your business ownership.
Why Are Short-Term Leases Harder To Obtain?
To answer this question in the easiest sense, obtaining a return on investment for the building is the main concern of any building owner or property management company. Locking down cash flow for the next few years will allow assets to come in as tenants come and go and maintenance needs updating. Also, a large amount of upfront capital needs to be invested in the building which can skew the bottom line. Leasing commissions, payment for owning the building, mortgages, etc all play a factor in how long the lease agreements are. At the end of the day, Monroe offices are looking to make back the income that they put in to the property. Working with the right Monroe commercial real estate agent can make all of the difference when signing this contracts as well.
On the other hand though, the tenant may want to lock in that particular rate in order to save in the near future as the cost of living rises. With our current economy, Monroe commercial real estate has seen it's ups and downs recently, and locking in a longer lease may actually be the best option to know exactly what it is you will be paying over the next few years. Even though longer leases are typically seen as a bad thing in the industry, it may benefit the tenant just as much as the property owner.
How To Create A Flexible Lease In Your Monroe Office
Since we dove in to the fact that short term leases are harder to come by, we do have a few work-arounds for when you sign that longer agreement to make your life a little less stressful.
- Add a Renewal Option
- Structure A Sublet Provision
- Add In A Termination Agreement
- Ask For A Right of First Offer for other Spaces to Upgrade to in the Building
- Add Alternative Work Strategies
- 24 Hour Entrance
- Free Parking
- Allowance of Tenant Improvement
These are obviously just a few ways that you can create a little bit more flexibility in your lease. Taking a lease from a 15 year down to a 2 year may not be that easily done, but adding some extra items in your contract of your next Monroe Office is that simple. Look over the lease agreement before signing and see if there is any information that you would like to add to make your time in the office more enjoyable. At the end of the day, this is where you will be spending 40+ hours, 52 weeks a year and it needs to be able to suit you today, tomorrow and the near future.