Starting a Successful Commercial Lease

A basic principle must be understood before starting your Commercial Lease search. Landlords are in the leasing business; that means they are experts in negotiating and understand the market.

For most tenants, leasing is something done once every five years. Meaning, you’re already at a disadvantage. Contacting a Real Estate Expert for consultation will ensure that you get the best deal possible.

With that in mind, let’s begin the process of starting a successful commercial lease.

Do I need to relocate?

If you’re considering relocating the office, you have two options. Relocate or Stay.

If you’re coming towards the end of your current lease, this consideration will spring up in your mind. Rightfully so, with contracts in Myanmar being typically 3 years. Relocation thoughts as you approach the end of the Tenancy is something that should be considered.

If you’re considering to Stay, you’ll need to find out if the space is still available, and negotiate a new lease. However, before moving into the negotiation phase you should evaluate the current market and shop around allowing your Real Estate expert to provide competitive bids for your tenancy.

The Benefits of relocating?

Is your business operating at maximum efficiency? Due to commercial leases generally being 3 years, your business needs today could be very different than they once were. Relocating can give you the opportunity to improve workplace efficiencies and operational cost savings. Additionally, the market conditions could provide tenants with a negotiation advantage.

Your company brand should be at the core of every decision you make. The current leased building may not be reflecting your companies brand as it once was. Relocating can give you the opportunity to strengthen the core values and branding of the organization. Employees’ and Stakeholders’ perceptions of your organization is a vital part of success.

The cost of Relocating

Relocating can have a big impact on your operational costs. When negotiating your previous lease in Myanmar, it was most likely the Landlord market. Meaning, you had little room to negotiate. As more commercial space is coming online, the dynamics of commercial leasing in Myanmar is changing to the tenants’ benefit.

Taking advantage of the current market dynamics and reducing operational costs during this period is key for all businesses.

Again, with the current market dynamics. We’ve found that landlords are becoming more flexible with tenant improvements to the office space. This should be seen as an opportunity to execute a rejuvenated workplace whilst minimizing tenant improvement costs. The current market is the best chance to negotiate these and save costs long term.

The best time to start looking?

It’s best to start considering a relocation at least 6 months before your current lease expires. It requires careful planning and preparation to ensure a swift and effortless transition that reduces company expenditure.

By speaking with Real Estate Experts for consultation, they’ll be able to save you time by assessing the current market, provide alternative bidding buildings, and ensure an optimal negotiation period with the landlord.