--- title: 5 Things To Do Before You Sign A Lease Extension description: There are basic questions you should ask yourself when deciding to sign a lease renewal. You don’t want to sign a lease extension out of desperation. image: https://blog.keyser.com/hubfs/Stock%20images/Businesswoman%20shaking%20hand%20to%20partner.jpeg --- [Office Space](https://blog.keyser.com/topic/office-space) # 5 Things To Do Before You Sign A Lease Extension [By Jonathan Keyser](https://blog.keyser.com/author/jonathan-keyser) April 07, 2015 - [** ](https://twitter.com/intent/tweet?url={url}&text={title}) - [** ](https://www.linkedin.com/shareArticle?mini=true&url={url}&title={title}) - [** ](https://www.facebook.com/sharer.php?u={url}) It dawns on your one morning on the elevator ride to your office: you’ve got exactly a year before your lease expires. As your mind remembers all the great times you’ve had in this office, it simultaneously starts racing about the future. When it comes to whether you should sign a lease extension or not, ask yourself these three basic questions:   - Do I want to relocate? - Do I plan to outgrow this space soon? - Do I expect a downsizing to happen? If you answered “no” to all these questions, you might want to sign a lease renewal or extension.  Once you come to that conclusion, there’s five things you should do in preparation. ## 1. Start Your Evaluation Early You don’t want to find yourself in a panic and frantically sign a lease extension out of desperation. Instead, start evaluating the space 12 months prior to the lease expiration. This gives you plenty of time to know if you want to renew. And if not, find another office space to move into at the conclusion of your lease.   If you approach your landlord regarding a lease extension too late, you’ll lose all leverage in the negotiation process. But if you go into negotiations with a clear understanding of the market and your overall objectives, you hold the cards in your hand. ### 2. Hire a Commercial Real Estate Broker Tenants often forego a broker’s assistance when it comes to lease extensions. Perhaps you think that your familiarity with the space and landlords gives you plenty of experience. But don’t write off a broker’s help quite yet.   Hiring a commercial real estate broker during a renewal or extension ensures you don’t leave money—or flexibility—on the table. Brokers know current market conditions, comparable rates, and incentive structures landlords may not volunteer. They also anticipate hidden costs, from operating expenses to tenant improvements, and negotiate terms that protect long-term business goals. Even in renewals, landlords aim to maximize returns; having an advocate levels the playing field and ensures your lease aligns with your strategy.   Moreover, the landlord pays for the costs of tenant brokers, even in the case of a renewal. With that kind of deal, who wouldn’t want assistance? You can get an experienced real estate professional to help you understand market trends, negotiation options, and other office spaces that may work even better for your company.   ## 3. Research Other Available Properties Investigating the market is one of the most important things you can do. Although a broker can provide powerful insight, you can learn about market trends even if you decide to take on this responsibility yourself.   Even if you have no intentions of moving, evaluate other properties. This will give you market knowledge for what others offer, negotiation opportunities and the current fair market value.   ## 4. Leverage Your Insider Knowledge Since you’ve spent time in the office space, you have insider knowledge of the strengths and weaknesses. You have greater leverage than you had the first time you signed the lease, simply because you know more.   *Knowledge is power.* What things do you wish you negotiated into the agreement the first time? Do certain things in the building bother you? Write it down and bring it up during negotiations. ## 5. Engage in an Amicable Negotiation Now you can go into the negotiation process with market insights and insider knowledge about the building. Approach this time in a friendly manner, because landlords will make greater concessions for great tenants.   Ask for more than you really want. It will give you room to negotiate. And if you need help negotiating the best deal, don’t shy away from the opportunity to work with a good tenant broker. They’ll help you every step of the way, from the beginning evaluation to the time you officially sign a lease extension. [All posts](https://blog.keyser.com) [Jonathan Keyser](https://blog.keyser.com/author/jonathan-keyser) Jonathan Keyser is the Founder and Managing Partner of Keyser Commercial Real Estate, which has become the largest commercial real estate firm of its kind in Arizona. Jonathan is also a Founding Partner of Exis Global, which today has over 580 people worldwide exclusively representing occupiers of commercial real estate. He is also the founder of a small investment fund that invests in emerging technology companies within Arizona, supporting and helping to grow the state's startup ecosystem. Jonathan was named “The Commercial Real Estate Disruptor” by USA Today. He is a #1 Wall Street Journal Best Selling Author, for his book, “You Don’t Have to be Ruthless to Win”. Jonathan is a highly sought-after keynote speaker, is widely recognized as a thought leader, has been featured in hundreds of articles, publications, and podcasts, and has been named a “Top 20 Virtual Keynote Speaker” nationally. As an entrepreneur, Jonathan has built Keyser into an eight-figure firm, which was named one of the Top 50 Most Trustworthy Companies in America by The Silicon Review. Jonathan is also one of the most connected business leaders in Arizona. He is an active member of Greater Phoenix Leadership, Young Presidents Organization (YPO), Chief Executive Organization (ceo), and the Million Dollar Speaking Group (MDSG) within the National Speakers Association (NSA). With almost 30 years of experience in the Commercial Real Estate Industry, Jonathan’s firm represents occupiers of space exclusively, both domestically and internationally across a broad range of industries. Jonathan is sought out by companies worldwide for his expertise in real estate and business acumen. He is particularly skilled at identifying creative strategies to align real estate with business requirements, designing and implementing unique solutions to complex real estate challenges, and resolving landlord-tenant conflicts where negotiations have deteriorated due to rising hostilities. Jonathan is happily married to his wife, Susanna, and has six children. His mission is to change the business community through selfless service, and his entire firm is built upon this philosophy. Jonathan is known throughout the business community as someone who loves to help others and who goes out of his way to be of service to people across the community. [** ](https://jonathankeyser.com/) [** ](https://www.linkedin.com/in/jonathankeyser/) ##### You might also like ![Shell vs Turnkey Space: Which Option Is Right for Your Business?](https://blog.keyser.com/hubfs/AdobeStock_1481803663.jpeg) [Shell vs Turnkey Space: Which Option Is Right for Your Business?](https://blog.keyser.com/shell-vs-turnkey-space-which-option-is-right-for-your-business) April 07, 2015 ![How National Companies Evaluate Secondary Markets](https://blog.keyser.com/hubfs/AdobeStock_928820731.jpeg) [How National Companies Evaluate Secondary Markets](https://blog.keyser.com/how-national-companies-evaluate-secondary-markets) April 07, 2015 ![What You’re Really Paying For in Today’s Office Market](https://blog.keyser.com/hubfs/AdobeStock_204525426.jpeg) [What You’re Really Paying For in Today’s Office Market](https://blog.keyser.com/what-youre-really-paying-for-in-todays-office-market) April 07, 2015 [![](https://keyser.com/wp-content/uploads/2023/01/cropped-LogoBug-RGB.png)](https://keyser.com/) **Designated Broker **Jonathan Keyser **License Number **KEYSER, LLC LC646225000 [**Privacy Policy**](https://keyser.com/commercial-real-estate/privacy-policy/) SERVICES [**Commercial Real Estate**](https://keyser.com/commercial-real-estate/) [**Business Advisory Services**](https://keyser.com/business-advisory-services/) ABOUT US [**Our Team**](https://keyser.com/our-team/) [**Our Culture**](https://keyser.com/selfless-service-culture/) [**Join The Team**](https://keyser.com/join-the-movement/) RESOURCE CENTER [**Blog**](https://blog.keyser.com/) [**Featured In**](https://keyser.com/featured-in/) LOCATIONS **Keyser World Headquarters **6400 E. 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