2023 BLOG NINE

When renegotiating leases, check the market for vacant properties available, desirable locations, traffic, easy access, and signage (especially for a business). Consider the benefits of staying at your current location ( less tenant improvements for the landlord) or cost to relocate. A new lease could involve constructions costs, and for a landlord missed payments due to the construction and possible delays. Evaluate lease requirements and is a personal guarantee required. consider seeking a longer term lease. Businesses may wish to use a broker. Consider submitting a lease renewal proposal.