Every time we need to haggle for lower office space rental rates or bargain for a lesser lease renewal, we immediately run and seek help from the listing agents whom we know. We tend to assume that they can help us get the best deal that we can from the transaction. In contrast with this assumption, listing agents are employed by the property owners to lease office space at the highest possible rental fee. Therefore, before we contact any listing agent, we must be ready to be assertive and practice smart tactics to achieve a lower office rental rate.
Consider the tips discussed below so that you can get the lowest feasible rental rate for office and commercial spaces located in Austin.
Employ an efficient Tenant Representative like Austin Tenant Advisors with expertise in office space leasing. Tenant Representatives work to represent the tenant who hired them. Since they are knowledgeable on the current rental rates for Austin office properties, they can negotiate a rental fee that will generate savings on your side.
Conduct a background check. Interview the current tenants of the property to know how the landlord manages the property. Based on those conversations, you will eventually know if the rental rate imposed by the landlord is reasonable enough.
Scout for all available properties and evaluate and compare which office space fits your business needs.
Learn how to negotiate. Always project a “surprised look,” whatever the cost that the landlord presents to you. You need to make the landlord believe that the rental price is way too high from your capacity to pay.
Prepare yourself for bidding wars. Both parties are expected to present counter offers until both parties agree. In any case that the landlord’s price does not match your expectations, do not hesitate to drop the current deal.