Sydney Commercial Lease: Re-Negotiating Your Lease in the Time of COVID-19

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The COVID-19 pandemic has thrown a spanner in the works for many businesses with a Sydney commercial lease.

Unfortunately, restricted cashflow means that a number of organisations have no choice but to re-negotiate their lease with landlords and agents.

Therefore, here are a few tips on how to best handle your Sydney lease re-negotiation.

Maintain an Open Dialogue

Communication is so important when it comes to negotiation your lease.

It’s essential that you are transparent with your landlord or agent, to ensure that there is zero chance of miscommunication.

For example, if there is some kind of grey area between both parties, it can create stress, animosity and the potential for financial impact.

Therefore, maintain an open line of communication with your landlord throughout the process, and start talking early.

This will ensure a smoother lease re-negotiation for your Sydney commercial space.

Maintain Your Tenancy

It’s essential during this time that you do what you can to maintain your tenancy.

A re-negotiation of your commercial lease will be far more preferable than surrendering your lease, which can be costly for your business.

Moreover, maintaining your commercial lease puts your business in a much better position for post-COVID, when companies can again operate normally.

Therefore, ensure that you re-negotiate early, to ensure your company doesn’t end up in a position where lease surrender is the only option.

Ensure Both Parties are Happy

A negotiation cannot end well without both parties feeling that a satisfactory deal has been reached. Without that, one party may be at a disadvantage and there can be animosity.

Part of ensuring that both parties are happy through the lease re-negotiation process means continuing to pay rent, where possible.

Moreover, open dialogue and a tenant advisor help to keep the negotiations amicable. That means a better end result for both parties.

Hire a Tenant Advisor

Commercial lease re-negotiation can be a tough area to navigate. Thankfully, at Niche Tenant Advisory, we’re here to help.

We have years of experience and skill in commercial lease re-negotiation and commercial lease surrender, meaning that you’re in safe hands.

This means that we can help your business secure the best deal possible on its commercial lease, saving you money and stress.  

Don’t go into your Sydney commercial lease re-negotiation blind. It’s not worth the risk, and we’re ready to handle it for you.

To discuss your Sydney commercial lease, get in touch with Niche Tenant Advisory here.

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