Depends on the price in relation to the rest of the market. And how bad you want the space. If the price is fair and you really want that space then just pay it. If you are looking at an area with high vacancy and other landlords are for example asking $2,000 for a 1000 SF space, but the space you want is $2,500 and has alot of other vacancies then offer the normal rate minus ten percent (depending on area and other factors), in this case $1,800. As a listing agent I try to list at market value but sometimes the market values change, I can usually convince the landlord to lower price if we find a fair reason. But present your case logically, like that you are a secure tenant with plenty of experience in your industry, you are low maintenance, and bring some printouts of deals being offerred nearby. Do not just go in and sound like a naggy know it all talking about "the bad market" as that will not get you anywhere and takes away your credibility as a solid tenant. In this market Ihave been able to get some really good deals for tenants, but what always worked was great credit, high level of experience, good character of business owner and emplyees, etc. Right now landlord prefer solid tenants paying a lower rent than even bothering with questionable tenants, right now it is better to be empty so that you do not just give away the space cheap for a long time. Also giving away space to quesitonable tenants at low prices puts the landlord at risk to have a tenant who defaults and maintains unlawful possession.
Oct 31, 2008