It’s a familiar scenario: your office lease renewal is approaching, and your property owner is eager to get you on board for another year -- since the costs of renewing a tenant are far less than finding a new one.
However, before you sign on the dotted line, it’s clearly in your best interest to step back and evaluate whether relocating your office could be a much better option than renewing your lease. Here are 5 potential benefits to keep in mind:
1. You’ll Avoid Significant Reconfiguration Costs
If your current space isn’t effectively supporting your workforce – either because it’s too big, too small, or just not optimally configured – then a business move will help you avoid significant, and in some cases excessive reconfiguration costs.
2. You Won’t Get Left Behind
When you first moved into your current space, it may have been “leading edge” and “state-of-the-art” in terms of design, efficiency, ergonomics, and so on. Well, that was then. Today, your office may be showing its age; particularly if newer and better buildings or developments have cropped up in the last few years. Relocating your office lets you get back on the leading edge – rather than get left behind.
3. You Won’t Get Pushed into a Bad Deal
Shrewd property owners go out of their way to make the lease renewal process as simple as possible – not because they necessarily want to make your life easier, but frankly because they don’t want you to conduct a market survey and likely discover that you could get a much better deal by changing addresses.
4. You’ll Miss Out on an Exciting Event!
Relocating your office is more than just about moving from point A to point B. It’s also an exciting milestone in your business’s history – and one that your entire team can rally around and look forward to. What’s more, if your new space offers significant advantages beyond cost savings – such as location, parking, innovative building features and so on -- you can use this to motivate your team, and leverage this as part of your “sales pitch” when recruiting top new talent.
The Bottom Line
Our advice isn’t that you should stay put and renew your lease -- or that relocating your office should be on the horizon. Rather, we simply encourage you to take a step back and evaluate your options, instead of automatically signing your lease renewal agreement.
If after this process you decide that staying where you are is the right decision, then that’s great! However, if you determine that a change of address is (or could be) the right decision, then we invite you to download our free ebook “How to Move Your Office in 5 Easy Steps”.
It’s an informative, easy-to-read overview of how you can make relocating your office simple, efficient and stress-free.
