Rent is often a retailer’s second largest recurring expense after personnel costs. Managing this large expense item takes dedicated, highly experienced professionals. Conditions can change rapidly opening opportunities to negotiate better lease terms and rental rates. When the real estate market experiences a down-turn, you may have the opportunity to decrease real estate costs. If you have leases expiring within the next couple of years, you have the opportunity to negotiate better terms. When you experience a merger or acquisition, you have will likely have overlapping locations that provide significant leverage for reduced rent. When contracts are inconsistent or you need to modify lease clauses due to changing business needs, an experienced negotiator is a must. Contract negotiation takes skill and knowledge of the current market and the lease terms that are likely negotiable.
SRS brings the experience of negotiating tens of thousands of leases over more than 30 years to assist clients with the renewal and restructuring of leasehold obligations. Our experts in lease negotiation work to reduce occupancy costs for their clients and to enhance their contractual position for improved lease agreements. We consistently save our clients 10% to 25% of future lease expense on 75% or more of the lease actions entrusted to us. In just eight years, SRS saved one client more than $75 million in rental obligations through its lease renewal and restructuring services.