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hi this is Steve Kerr Levitch of CBRE welcome to another edition of Street talk today is one of my favorite topics today I'd like to talk to you about lease renewal strategies if you have an upcoming lease expiry you might be surprised to learn that landlords typically expect to receive premium rental rates from a tenant that's renewing versus a new tenant in the market because they'll estimate your moving expenses and they'll try and factor these costs into their renewal proposals but the biggest mistake that we see firms make here is that they don't allow themselves enough time to negotiate effectively your option to renew clause within your lease will typically state that you're required to give notice to the landlord anywhere from 6 to 18 months prior to your lease expiry but if you wait until you're within that notice period and give notice you've basically lost all of your negotiating leverage because you're negotiating strength comes from having choices that's where we can help...
