Contract renewal or relocation? How to effectively manage the new office rental cycle
In today's dynamic business environment, decisions regarding office space rental are no longer just operational — they are strategic. Whether you are considering renewing the contract at your current location or relocating to a new space, this process can have a significant impact on the financial health of the company, employee satisfaction, and operational efficiency.
What are the essential steps of an effective process?
1. Establish clear priorities:
● The image and comfort of the workspace
● Financial efficiency
● Space optimisation
● Cost per workstation
These priorities will guide you in the decision-making process and help you compare options objectively.
2. Approach the process with the right mindset
Approach the process as if relocation is a real option — even if you intend to stay in your current location. This approach gives you negotiating power and helps you explore all viable alternatives.
3. Structure the process in a professional manner
An efficient rental cycle includes:
● Market analysis and visits to alternative spaces
● Internal analysis and establishing decision-making stages
● Planning the layout and approving the budget
● Signing the lease contract or the additional extension document
Time management is essential: a well-planned process gives you an advantage in negotiations and avoids hasty decisions.
Depending on the size of the company and the provisions of the current contract, the process should be initiated8 – 24 months before the contract expires. We can customise the infographic below, provided as an example., oferit cu titlu de exemplu.
We can customise the infographic below, provided as an example., oferit cu titlu de exemplu.
Infographic: The efficient cycle of a new rental cycle
4. Choose the right approach: with internal resources or through a professional real estate consultant with over 23 years of experience
What advantages do you have if you work with a professional consultant:
● Message of determination: You convey to the owner that you are ready to stay or choose another location — depending on the offer.
● Objectivity: Negotiations remain within a professional framework and a mediator can more easily manage difficult situations.
● Access to market information: You receive real data about the current level of rents to ensure that you will pay a rent at the current market level.
● Off-market opportunities: You can discover spaces with advantageous rents available for subletting or solutions that are not public.
● Decision-making support: The consultant prepares the decision-making report for the Board.
● No costs for the tenant: Professional developers have allocated a budget chapter dedicated to transaction fees, both for identifying new tenants and for renewing existing contracts.
Conclusion
Whether you choose to renew the contract or relocate, this process is an opportunity to optimise your company's space and costs. Let's discuss how we can support you in the next step.
📅 Schedule a 30-minute meeting at your office or online via Microsoft Teams.
Contact the ESOP team by completing this short form or by phone at (+4) 0723.26.61.97 or (+4) 021.528.04.40. We will be happy to respond promptly to your request!