登录查看更多内容

How can you benchmark your lease negotiation performance?

由人工智能和领英社区提供技术支持

Lease negotiation is a critical skill for corporate real estate professionals, as it can have a significant impact on the costs, flexibility, and performance of your portfolio. However, how do you know if you are getting the best deal possible and achieving your strategic objectives? In this article, we will discuss how you can benchmark your lease negotiation performance and identify areas for improvement.

此文章中的业界达人

由社区从 9 条内容中精选。了解更多

Michael A. Ferruggia, Esq.

Partner at Bruno, Gerbino, Soriano & Aitken, LLP

1 Define your goals and metrics

Prior to comparing your results with others, it is important to have a clear understanding of what you want to achieve and how you will measure it. Your goals and metrics should be in line with your overall corporate real estate strategy, taking into account your specific needs and preferences. For instance, you may be looking to reduce occupancy costs, increase space efficiency, secure better lease terms, or enhance environmental and social impact. When tracking your lease negotiation performance, some common metrics include average rent per square foot, rent escalation rate, lease duration and renewal options, tenant improvement allowance and free rent, break clauses and sublease rights, as well as sustainability and wellness certifications.

添加您的观点

Jaqueline Branco, MBA

Corporate Real Estate IFM Administration, Global Workplace Strategy and Transactions
举报内容
Equip your team with strong negotiation skills. Negotiate favorable terms and conditions, including lease duration, rental rates, tenant improvement allowances, and renewal options. Consider seeking the assistance of a professional real estate broker with experience in commercial leases.

已翻译

赞

加载更多内容

2 Collect and analyze data

Once you have defined your goals and metrics, you need to collect and analyze data from various sources to benchmark your lease negotiation performance. You can use internal data from your own portfolio, such as lease abstracts, invoices, and occupancy reports, to evaluate your historical trends and current performance. You can also use external data from market reports, industry surveys, and peer groups, to compare your performance with the average or best practices in your location, sector, or size. You can use tools such as spreadsheets, dashboards, or software applications to organize and visualize your data and identify gaps and opportunities.

添加您的观点

加载更多内容

3 Adjust your strategy and tactics

Based on your data analysis, you can adjust your strategy and tactics to improve your lease negotiation performance. You can use your benchmarks as a reference point to set realistic and ambitious targets for your future negotiations and monitor your progress. You can also use your benchmarks as a leverage tool to negotiate better terms with your landlords or brokers and demonstrate your value proposition. You can also use your benchmarks as a learning tool to identify best practices and lessons learned from your own or others' experiences and apply them to your next negotiations.

添加您的观点

Catherine Prebe-Jones

Realtor
举报内容
Analyzing data provides a valuable compass for refining lease negotiation strategies; leverage benchmarks not only to set ambitious targets but also to showcase your value proposition when negotiating with landlords or brokers. Furthermore, treat benchmarks as a dynamic learning tool, extracting insights from experiences to continually enhance your approach in future negotiations.

已翻译

赞

加载更多内容

4 Communicate and collaborate

Another important aspect of benchmarking your lease negotiation performance is to communicate and collaborate with your internal and external stakeholders. You can use your benchmarks to report and justify your performance to your senior management, finance department, or board of directors and gain their support and approval. You can also use your benchmarks to educate and engage your employees, customers, or partners and align them with your corporate real estate goals and values. You can also use your benchmarks to network and exchange insights with other corporate real estate professionals and learn from their challenges and successes.

添加您的观点

加载更多内容

5 Review and update

Finally, you should review and update your benchmarks regularly to ensure they are relevant and accurate. You should consider the changes in your business environment, such as market conditions, customer demand, or regulatory requirements, that may affect your lease negotiation performance and adjust your goals and metrics accordingly. You should also consider the feedback and suggestions from your stakeholders, such as landlords, brokers, or consultants, that may help you improve your lease negotiation performance and incorporate them into your strategy and tactics. You should also consider the innovations and trends in the corporate real estate industry, such as new technologies, methodologies, or standards, that may enhance your lease negotiation performance and adopt them as appropriate.

添加您的观点

Michael A. Ferruggia, Esq.

Partner at Bruno, Gerbino, Soriano & Aitken, LLP
举报内容
As in life, the only constant in CRE is change. Market trends, legislative initiatives, and macro-economic factors (to name a few) continually redefine the landscape. Negotiating tactics must take these into account to remain fresh and prove effective.

已翻译

赞

加载更多内容

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

添加您的观点

加载更多内容

Corporate Real Estate

+ 关注

给文章评分

我们借助人工智能创建了此文章。您认为这篇文章怎么样？

很棒不太好

举报此文章

查看全部

How can you benchmark your lease negotiation performance?

1

2

3

4

5

6

1 Define your goals and metrics

2 Collect and analyze data

3 Adjust your strategy and tactics

4 Communicate and collaborate

5 Review and update

6 Here’s what else to consider

Corporate Real Estate

给文章评分

感谢您的反馈

更多Corporate Real Estate相关文章

更多相关阅读内容

How can you benchmark your lease negotiation performance?

1

2

3

4

5

6

1 Define your goals and metrics

2 Collect and analyze data

3 Adjust your strategy and tactics

4 Communicate and collaborate

5 Review and update

6 Here’s what else to consider

Corporate Real Estate

给文章评分

感谢您的反馈

查看其他技能