Effective rent is the only rent that matters

A quoted rent is only the opening line of a lease. Free rent, tenant improvement dollars, moving allowances, annual escalations, and operating expense stops determine what the occupancy actually costs.

Put every dollar on a monthly timeline before comparing spaces. A lower face rent can be the more expensive deal once weak concessions and early escalations are included.

Use the same term, discount rate, and usable-area assumption for every option. That removes the presentation choices landlords use to make unlike proposals look comparable.

Effective rent gives the negotiation a measurable target. Instead of asking for a vague improvement, you can show exactly which combination of free rent, work-letter, and escalation structure closes the gap.