Are you fretting about finding an office space for rent because you are still paying the lease on the building you are currently using? If so, a blend and extend leasing term might appeal to you. A rental of this kind is convenient and unique to other rentals, because it allows you to sign a brand new lease early. Even if there are a few years remaining on your existing lease, you will still have the opportunity to sign a new agreement and take advantage of what could be a very favourable market. Before you dive in, understand the basics.
The Importance of Timing
Time is of the essence as they say and this saying rings true for anyone who is looking for an office space for rent. With blend and extend office leases the timing is critical, because market conditions should be just right if you are to avoid renting in a falling market. Get an idea of where the market is heading and only sign that lease when you are truly ready to so do. Ideally, the agreement should benefit both the tenant and the landlord, so try to do it at a time when you are ready to extend the lease for a year or more, as a short-term lease may be overlooked if the landlord is presented with interest elsewhere.
Remember that loan agreement modifications or refinancing will be the two main ways in which a landlord will make money from blend and extend leases on an office space for rent. . Preparation could prevent you from being out of pocket. The area and the building itself should be strategically suitable for the long-term, so do your research ahead of using a leasing strategy of this kind and the landlord will be much more motivated to secure the transaction.
A serviced office will make expanding your business much easier, so why not let Corporate House impress you with their furnished spaces? Call 1300 968 763 to learn more.