Author Archives: mnorris

During the lease term, landlords will send seemingly benign notices to tenants, often through their property managers. Much like with the operating expense and tax reconciliation statements that we discussed previously, these notices require professional scrutiny. Just as many tenants … Continue reading →

When you look at lease comps for particular building, one consistent pattern invariably exists – renewing tenants don’t achieve the same deal that new tenants receive. Tenants often believe that because they are a good, rent-paying tenant, that their landlord … Continue reading →

Rate. Landlords focus tenants on the rate, and as a result, the rate is the most common term tenants and their business advisers focus on when discussing their leases with each other. Tenants need to go beyond landlord marketing tactics … Continue reading →

It’s startling to read a large tenant’s lease and discover how less favorable it is compared to what smaller tenants with less leverage achieved at the same time in the market. Sometimes, the rent and other cost exposures are higher; … Continue reading →

Outages like the ones this week are sometimes unavoidable. However, tenants frequently endure interruptions to services critical to their operation for reasons within their landlords’ control. Below are some questions you’ll need to answer to understand how well you are … Continue reading →

A business or organization that can reasonably project future growth, or at least stability, has an ostensible advantage in a negotiation with a landlord in a market weakened by economic and public policy uncertainty. Indeed, many of the potential cost-saving, … Continue reading →

Of course you do. He tells you what a smart negotiator you are, how much he tries to take care of his existing tenants first and how he’s giving you discounts and other free services. All of this makes you … Continue reading →

Many people view their lease as a necessary expense to achieve their business objectives. They “need space” therefore they rented it based on how landlords typically market space – location, amenities, rental rate, etc. However, there is a more strategic … Continue reading →

Landlords will typically automatically suggest ‘as long as possible,’ usually up to 10 years. Other business advisors may tell you ‘as short as possible.’ The correct answer is a function of your business plan. There’s no question the best economic … Continue reading →