LETS THROW SOME MONEY AWAY!
LEASE RENEWALS are a negotiable event!! I am always amazed when a tenant has a lease coming up for renewal and simply sends the landlord a letter saying they “hereby exercise their option to renew”. What about good old fashioned negotiation? How about telling the Landlord, “Gee, I’d like to stay, but the carpet is getting really tired and the walls could use a fresh coat of paint. And the air conditioning still doesn’t work that well. If you’ll fix all those things, I guess I could stay. Otherwise we need to go to a place with a better image.” Or a thousand other stories. Is the space really perfect in size and condition and location and rent? Sure you don’t want to move, and the Landlord knows most companies don’t want to move, but many do, and maybe you are one of those!
And don’t get me started on rental rate. Look around. Is your rental rate still fair in today’s market? If it is a little high, then say you want it to be lower . . . like the rent the Landlord will get if you move out!
So use the Lease Renewal as written if it is to your advantage – like when your rent is below market – or ignore it and negotiate something better. But do so way in advance so the Landlord knows you CAN relocate if you choose to do so.