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Steve Kerr Levitch of CBRE discusses lease renewal strategies, emphasizing the importance of negotiating early to maintain leverage. Landlords expect premium rates from renewing tenants due to moving expenses, so firms must plan ahead. Giving notice within the required 6-18 months before lease expiry is crucial to have negotiating power and options. Waiting until the notice period limits negotiating strength. Consulting with professionals can help firms navigate renewal negotiations effectively.
