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Steve Kerr Levitch of CBRE discusses lease renewal strategies in this tutorial. Landlords often expect higher rental rates from tenants renewing leases due to moving expenses. Firms make a mistake by not allowing enough time for negotiation. The option to renew clause in leases usually requires notice 6 to 18 months before expiry. Waiting until the notice period weakens negotiating leverage. It's essential to have choices during negotiation to secure favorable terms. Consulting professionals can help in navigating lease renewal negotiations effectively.
