Know your walk-away number first
Options, market rent and concessions, priced into one term sheet.
- Length
- 7 business days
- Price, indicative
- From $2,000 per lease
A renewal is a negotiation that the lease, the market and the cost of moving have already half settled. The brief prices all three, puts them on one term sheet and sets the number where you stop. You run the negotiation: we do not negotiate on your behalf or act as a broker.
From lease file to term sheet
- Day 0
Lease and aim
The lease, amendments, any offer received and your aim: stay, keep the tenant or test the market.
- Days 1 to 2
Options read
Renewal options, notice deadlines, rent formulas and termination rights, each with its date.
- Days 3 to 4
Market priced
A market rent range from comparable signed deals, adjusted to the space and the terms.
- Days 5 to 6
Alternatives costed
Renewing, re-leasing or moving, each priced with vacancy, build-out, commissions and free rent.
- Day 7
Term sheet delivered
A priced term sheet, an opening position and a walk-away number, with a 30-minute call.
What lands on your desk
- Who it is for
- Landlords and tenants with a renewal or option ahead
- Format
- Remote review, then a priced term sheet and a call
- A priced term sheet: rent, term, escalations, concessions and options
- A walk-away number, with the math that sets it
- A market rent range for the space, with its comparables
- The cost of each alternative: renew, re-lease or relocate
- A dates sheet with every option and notice deadline in the lease
- A 30-minute call to go through the numbers before you meet
Who it suits, and who not
Right for you if
- Tenants with a renewal option or expiry inside the next eighteen months
- Landlords whose tenant has asked for free rent or build-out money
- Owners and tenants negotiating without a broker
- Leases that tie renewal rent to market rent
Look elsewhere if
- Someone to negotiate for you (hire a licensed broker or your attorney)
- Drafting the renewal amendment (that is your attorney’s work)
Example: a net lease tenant asks for free months
A landlord owns a 7,500 square foot single-tenant net lease building in Fort Collins. Ten months before expiry, the tenant asks for five more years at the current $17.00 per square foot with four months free, an effective $15.87 a year. Re-leasing at the $18.50 market rent, after nine months vacant and $15 per square foot of build-out and commissions, nets about $12.70 a year. The brief sets the walk-away near $12.70 and opens at $18.00 with two months free.
Renewal and negotiation brief questions, answered
Will you negotiate for me?
No. We prepare the numbers, the term sheet and the walk-away; you or your broker run the negotiation. We are not brokers, earn no commission and do not contact the other side. If you want a representative at the table, hire a licensed broker or your attorney, and we will brief them.
What is a walk-away number?
It is the rent at which the deal stops beating your best alternative. For a landlord, that alternative is re-leasing, with vacancy, build-out and commissions. For a tenant, it is moving, with relocation and build-out costs. The brief shows the math, so the number holds up when the other side pushes.
When should I order the brief?
Before your first conversation with the other side, and well before any option notice deadline, which can fall many months before the lease ends. The brief takes 7 business days. Its dates sheet puts every deadline in one place, so order it while there is still time to choose.
Does the brief include market rent?
Yes. Every brief includes a market rent range for the space, built the same way as our market rent benchmark but sized to the renewal question. If you already have a benchmark for the same space from us, we start from it rather than gathering the evidence twice.
Is this legal advice about my lease?
No. We read the lease for dates, money and options and say plainly what the terms appear to require. Whether a notice was validly given, or what a disputed clause means, is a question for your attorney. Your attorney also drafts the renewal amendment once the terms are agreed.
Read on before you call
Scope this with us
A free 30-minute call to see whether the renewal and negotiation brief fits your property, your dates and your budget.