How to Negotiate the Most Reasonable Price and Cost of Office Rental
Renting an office in Ho Chi Minh is not difficult, but to rent an office at a good price, not everyone has experienced. Here are 5 tips to help you negotiate the rent with the best office leasing unit.
1. UNDERSTANDING THE MARKET AND OFFICE RENTAL PRICE WHEN NEGOTIATING
Making a first impression with the investor or the lessor with your understanding of the office rental market, rent is the most important thing to negotiate a good rental rate.
Assuming you don’t know anything about the market or basic knowledge such as NET or GROSS area rent, what is the average rent in each city area, then this is a big gap. Make the landlord scream an outrageous price when you ask to rent. Therefore, before asking for rent, make sure you have basic information about rental prices, the office market for rent as well as information about the building’s owner. If it is difficult to find this information or do not have enough knowledge, ask for the support of office leasing services, the consultant will do it for you to negotiate the most reasonable rental price.
2. KNOW HOW TO ASSESS OFFICE FOR LEASE
You need to know the criteria for evaluating office space for rent to come up with an appropriate rental price. These criteria are the basis for you to be willing to rent or need to reduce the rental price in terms of area, space, utilities as well as feng shui office for rent. At the same time, in addition to evaluating and making comments about that office, discuss with the rental unit the details you think it is worth receiving to reduce costs.
To do this, answer a few questions:
What are the advantages of an office in this area?
s the office large, airy, and spacious enough?
Does the office have enough facilities?
How is the office feng shui, are there many dead corners or columns, beams in it?…
3. NEGOTIATE RENTAL PRICE BASED ON THE PRINCIPLE OF 2 WINNERS
In addition to pointing out the advantages and disadvantages of the office and the evaluation of the office, you should show the investor what are the benefits when they let your business rent an office.
The principle that both parties benefit is always upheld and has a great effect in all negotiations, and the same goes for negotiating office rents. For example, if the developer reduces the office rental fee from 25usd/m2 to 23usd/m2, you will rent the office for 5 years, instead of 3 years as expected.
Please give as many benefits that the investor can get when renting to your company at a good price. Of course, be based on the reality and responsiveness of your company. If positive, this will be a favorable point to help you negotiate more successfully.
4. CATCHING THE PSYCHOLOGY OF THE LESSOR
Understanding the psychology of the lessor in the negotiation and during the working together is essential for you to know how to behave and offer appropriate rental conditions and costs. When you know the psychology of the lessor, you also know how to talk better, know when to give what information, when to hard and soft ground in the negotiation.
Not everyone can easily capture the psychology of office tenants. Only those who have experience in negotiation, or are familiar with many situations when renting an office, know how to grasp the psychology of the other side. In this case, you might want to go with a more negotiated person to assist you.
5. KEEP STANDING IN NEGOTIATIONS
The last thing in office rent negotiation tips is staying grounded in negotiations. Of course, there must be reasonable and win-win factors, if the demands are unreasonable then the standing firm will lead to a failed negotiation.
If you are confident that with your arguments to be convincing based on market conditions, the assessment of the office for rent is accurate or has captured the psychology of the lessor, then stand firm in their position, clearly showing the position to the opponent. This is the key to getting the landlord lenient and giving you a better rental rate.
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