Read your lease first
Before you look at a single space, find these in your current lease:
- The expiration date
- Any renewal option, and the deadline to exercise it
- How much notice you must give if you are leaving
- What you must remove or restore when you move out
- The holdover rent if you stay past the end date
Holdover rent is often 125% to 200% of your current rent, so running late is expensive.
A typical timeline
12 to 18 months out
Decide what you need: size, location, budget, and whether you might buy instead of lease. Talk to a tenant broker. Review your renewal option and notice deadlines.
- Larger or specialized spaces start 18 months out
9 to 12 months out
Tour spaces and compare them against renewing where you are. Your landlord is more flexible when they know you have real options.
- Send LOIs to your top choices
6 to 9 months out
Negotiate the LOI and the lease, including tenant improvement allowance and free rent. Give notice on your current lease if your lease requires it.
- Leases often take 30 to 60 days to negotiate
0 to 6 months out
Permits, construction, furniture, cabling and the move. Build outs alone can take 2 to 6 months, which is why the search has to start early.
- Restaurants and medical take the longest
Renew or move
Renewing can make sense
- The space still fits for the next 3 to 5 years
- Moving and build out costs would outweigh savings
- The landlord offers fair rent and some improvements
Moving can make sense
- You have outgrown the space or need less
- Comparable space nearby is meaningfully cheaper
- Your customers or employees have moved
- You want to own your building instead
Even if you plan to stay, testing the market gives you real numbers to negotiate your renewal with.
Common follow up questions
Will my landlord raise the rent if I renew?
Often, if market rents have gone up since you signed. A renewal is still a negotiation. Knowing what comparable spaces nearby lease for is the best way to keep the increase fair.
Does it cost me anything to use a tenant broker?
In most Colorado lease deals the landlord pays the broker commission, so tenant representation usually costs the tenant nothing out of pocket.
What if I miss my renewal option deadline?
The option usually lapses and the landlord is free to set new terms or lease to someone else. Put the deadline on your calendar the day you sign a lease.
This page is general information, not lending, legal or tax advice. Programs, limits and terms change, and every situation is different. Talk with your lender, attorney and CPA before you decide.