Don’t Get Stuck Overpaying: Critical Tips for Lease Renewals
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Renewal clauses in commercial leases require careful consideration, just like signing a new lease. In this iOpt Minute, Don Catalano, SIOR, CCIM, MCR, explains why assuming a renewal is the best option can be a costly mistake. Markets shift over time, and what was a fair deal years ago may no longer align with current rates. Discover why it’s essential to have a tenant representative thoroughly evaluate the market before committing to a renewal, ensuring your decision is financially sound.
What You’ll Learn in This Video:
- Why Lease Renewals Need Careful Evaluation
- How Market Changes Impact Lease Terms Over Time
- The Benefits of Market Comparisons Before Renewing
- The Role of a Tenant Rep in Securing the Best Terms
- Avoiding Common Renewal Pitfalls in Commercial Leases
Want to learn more? Check out our article on Top Considerations for Office Tenants Approaching Lease Renewal.
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