Ever since the outbreak of the corona virus pandemic, a significant number of companies across the country have been re-thinking their space office needs and looking to reduce their obligations for rent.  One option many business owners are pursuing is to sublease their office spaces in order to right-size their office configuration and create new, more enticing environments where employees will want to come to the office and the business culture can thrive.

For companies that signed office leases in 2017 and 2018 this is especially relevant. They were blindsided as the pandemic sent their work force home and left their shiny new offices sitting vacant.  Now that the pandemic fears are subsiding its time to re-evaluate your business space needs and set a course for the next few years which will address the changes in your organization that these past few years have necessitated.   Business owners are looking to accommodate the current trends of hybrid work and many are seeking to exit their old leases and transition into new work spaces that will fit the company’s future vision of culture and community.

Whether to sublease or not is not a one size fits all decision, there are various factors that businesses should consider when subletting including: is it going to be worth the effort and expense, when to start the process, how to structure the economics and terms to minimize lease exposure, how to adequately securitize the sublease and manage the various risk factors that go along with the sublease process.

We have been helping clients to sublet their business spaces and recover the potential losses in rent for over 30 years and would be happy to discuss your unique scenario.