Protecting Your Financial Interests as Rental Rates Increase (FAQ)
Frequently Asked Questions from Corporate Real Estate Strategies | Issue 34
With office markets tightening and Pittsburgh having one of the highest occupancy rates in the U.S., we are often asked what corporations can do to protect their financial interests as rental rates increase. In this month’s newsletter we share proven cost saving tips.
- Put real estate in its proper perspective and use it to compete.
- Know that a change in the size of your office (expansion, contraction, merger, etc), as well as an upcoming lease expiration, are opportunities to improve the financial position of your company.
- Explore an early renewal if your company is leasing more than 20,000 SF and has a lease expiring in the next 30 months.
- Understand the market, including trends, incentives, hidden costs, rental rates, when major leases expire, etc.
- Leverage your real estate requirement to achieve the most attractive terms.
- Enlist an experienced tenant representative as your advocate, and to manage the lease analysis and negotiation process.
Carrie Holstead is the president and CEO of Carrie S. Holstead Real Estate Consultants, Inc / ITRA Global, and the immediate past chairman of the board of ITRA Global, which represents users of corporate space worldwide. For more information, contact Carrie at 412-833-1030.
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