Last month I helped my client Tamara get a 2 months’ rent abatement, reduce rent by 50% for another 2 months, plus defer it until next year.
Lease renewal time is always a good time to renegotiate a lease, and depending on the market, the lease might be more negotiable than ever.
Tamara’s retail lease is 50 pages long and just reading it gives her a huge headache. A commercial lease is likely to be one of the longest, most complex and one-sided contracts a business owner will ever see. Smart business owners usually hire the right experts to help. These experts typically include a commercial real estate agent and a business attorney like me.
The agent can help find the best space and negotiate financial perks and savings up front; I help reduce risk and save money down the road. Plus, I know which terms are worth negotiating.
If you signed your office or retail lease before 2020, did you ever see a pandemic coming when you originally signed it?
Things have changed. So should your lease.