According to Commercial Real Estate Group of Tucson, commercial tenants have received their 2009 expense reconciliation statements of operating expenses and taxes from their landlords. Typically, you have 30-60 days after receiving these statements to give notice to the landlord if you wish to perform an audit. If renting office space, industrial space, warehouse or other commercial real estate, now is the time to inquire if your landlord is over-billing your company; an audit may save you substantial sums of money over your lease term.
Gain power in renegotiating your commercial lease by knowing where landlords stand, shopping around and walking away.
These are the best times to renegotiate a lease on your commercial real estate space. Landlords will make any reasonable accommodation to keep you where you are.
But they won’t tell you that.
Instead, you may hear them ask for a modest increase in your rent to cover inflation or other costs as standard policies.
Renters of commercial real estate can find one bright spot in this dim economy. Landlords are negotiating more attractive packages to fill their empty spaces and keep good tenants from leaving.
“We’re finding that landlords are asking for rents somewhere between 20 and 30 percent lower over last summer in order to fill their empty spaces,” says Michael S. Coretz, broker with Commercial Real Estate Group of Tucson. “For some building owners, it’s better to keep some revenue coming instead of none at all.”
International Tenant Representative Alliance