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[mk_dropcaps content=”E” style=”fancy-style” width=”1/1″ el_position=”first last”]veryone who has ever been in a position of renting commercial space knows the Golden Rule (even if not by name). The rule is this: He who holds the gold makes the rules! In Commercial Leases, this has translated into landlords dominating the terms of the lease, leaving little room for tenants to negotiate.
The good news for tenants is that today’s economic climate means that things are very different than they have been in the past, and tenants now have more bargaining power. This is because commercial landlords are dealing with lower levels of occupancy in their commercial properties. In particular, major malls are unable to maintain long-term tenants. For example, for the first half of 2012, Palm Beach County has seen a vacancy rate of 22.95%. This is leading to a significant increase in the negotiating power of commercial tenants.
What does this all mean??? THIS IS A GREAT TIME FOR COMMERCIAL TENANTS TO NEGOTIATE A NEW LEASE.
If you are interested in leasing a commercial property, you need to negotiate the terms of your lease as favorably as possible and make sure you are protected under the terms of the lease. If you can, you should consult with an attorney to review the lease or negotiate the terms of the lease. (See our page on leases.)
To see how our office can help you, please feel free to give us a call to set up a free consultation.
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