Valuations

Expansion Options

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1031 Tax Free Exchange

Real Estate Trusts

Relocation

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Highest and Best Use

Condemnation

Empowerment Zones

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Back to Basics

Lending Sources

Strategizing

Environmental Issues

Right of Way

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A.D.A Review

Building Safety Inspections

Zoning Issues

Industrial Development Bonds

Real Estate Contacts

Airport Environs

Today’s Tough Market Fall 2008

These are times to say “we need to talk” to our landlords and landlords may heed this advice too. Sometimes we don’t have a choice but to close our doors at the end of a lease. Sometimes we just need a break while adjusting our business practices.

If you are a landlord and you have leases expiring in the next two years, this is a very good time to strike up a conversation with your tenants if you want to keep them into the future. I can tell by looking at my own income records that we have down markets every ten years; this is not rocket science.

You want to keep your tenants and you see rent rates dropping around you….offer a softer rate to your tenant now.Don’t wait. Last thing you need is dark space for a long period of time.

A reminder, when all a small business is doing by staying open is paying the rent, you both lose. By being proactive you may take a small hit on your income stream but you may endear a tenant to consider a longer lease with you as market conditions improve.

As a business owner renting space you also need to pay attention to market conditions. Same goes. If you have a lease close to expiring, now is the time to negotiate with your landlord, if your location is working you.

If you are thinking about moving or you need to move, it will be hard for a landlord to offer you a sweet deal, unless it is obvious your business is hurting to the point of closing.

Landlords usually would rather you stay open and paying rent than closing. Go ahead; have the conversation if it can buy you some time. If both parties are working together both parties can win.

In both cases the conversation is oftentimes hard to have because either; the landlord is absentee or operates through a property management company or real estate agency, or in most cases, this is the last thing a landlord wants to consider. This is when you can call Trident Commercial Real Estate Company, LLC to serve as your agent to negotiate a new lease agreement and/or discuss your options.