Real Restate Resources

LEASE RENEWAL CONSULTING - HELP IS AVAILABLE

Is your lease coming up for renewal and you're not sure what to do - renew where you are, or move?

In order to make an informed and economical decision, you should consider retaining the services of a Realtor who specializes in commercial properties to advise you on:

• What are current rents and how do they compare with what your landlord is asking?
• How do the operating costs / taxes in the building you're in compare to other properties? (These costs can range from $6 per square foot to $12 per square foot in the downtown Victoria core alone)
• What inducements are landlords offering? Is it cost effective to downsize or relocate?
• Parking - what are the costs to the company and staff?
• Where would your staff like to be - Saanich / suburban or downtown core?
• Where does your business have to be? Do you need to be close to the banking district or close to where there is ample parking?
• Typically, at the time of lease renewals the landlord has retained the professional services of his or her property management company or
• Realtor to give advice on current market conditions and what can be expected. You, as a tenant, are entitled to your own representation and can employ the services of a Realtor as your agent to advise you.