Office Leasing Terms: Offer

If a tenant decides to rent a space, the first step forward is submitting a proposal or offer. The proposal should include:

  • Information about the tenant’s business including website and financial information
  • Monthly rent
  • Lease term length
  • Any work the tenant wants the landlord to complete
  • Any rent concession
  • Start date
  • Security deposit
  • Escalations
  • Base tax year
  • Additional monthly costs

Your broker can draft the offer and you can review it before they submit the offer to ownership. All offers should be non-binding . Unless time is of the essence or there is competition for the space, it is usually smart to send an initial offer that is a little too low to be accepted, but high enough to be seriously considered and garner a counterproposal.

There can be several rounds of counterproposals before an agreement is reached.