In most situations, renewing a lease should be relatively easy for a tenant who is in good standing with the landlord’s lease terms and is comfortable with his own financial position. But in this market, “easy” is a relative term. For example, if you are willing to pay market rents and to accept the landlord’s terms, it will be “easy” to sign the renewal letter. However, if you are seeking some concessions in the rent or terms of the lease, “easy” will not be the first word that comes to mind. The landlord may dig in his heels and the tenant may feel that all the goodwill he built up as a quality tenant has not translated into any benefit. This might be similar to negotiating with your cell phone provider after being a “valued customer” for twenty years: you discover that they treat you about the same as a “new customer”…or worse!
If you are faced with this situation..........
Christopher J. Destino, a Principal at Lee & Associates, is an engaging, responsive professional who enjoys working closely with his clients and helping them succeed.