Negotiating Lease Renewal/Extension

[Shane]

I know that when you are signing a NEW lease to occupy space, you can normally negotiate a few months of free rent, etc.

I was wondering if anyone has tried to negotiate this or other different things, like seasonal payments, when renewing your lease?

[Beach Bum]

Absolutely. You can ask for anything. Free months, $$$ for capital improvements, lower payments, etc...

It all depends on wether it is a buyer's, or seller's , market. I know I frustrate my landlords with my requests, but they love the fact that I pay my rent every month, on time, for years. So they tend to give me some of what I request.

[Shane]

From a commercial standpoint, there are tons and tons of new strip centers just opening and also being built. Most are still empty or mostly empty. So maybe I do have a little leverage.

The only thing is my landlord recently passed away, and now it's his daughter who is handling all of the commercial real estate.

What is a normal amount of free rent to ask for?

We've been here 10 years, pay on time etc etc.

I'd be happy with a couple, but if the going rate is more, I would definitely start higher.

[Din]

2 months is the norm that is offered by the landlord. You should work your way up from there. i've seen 6months as the max.

[Island Cove]

well if you want 2 months, ask for more.

[imhere]

is it normal to ask a landlord to freeze rent payments during some or all months of JASON and instead spread it out over DJFMAMJ? would this even be smart to ask for?

[Mojave Tan]

How nice to have a local landlord and not a corporation out of a different state.
We never see or hear from ours.

[dbl-a]

I got 5 months free when I signed my initial 3 year lease. It helped a great deal since I did a lot of improvements to the salon. I asked for 6, he said 5 months of rent, I got 5 months rent+CAM free.

[Shane]

Bump, c'mon people. I know some of you have been in biz years and have had dealings like this????

[Din]

1 month FREE for every year you sign.

[Bombay Tan]

Shane,
Got two months here free and another $2500 for upgrades. Once I provide the landlord the receipts they will reimburse me up to the $2500 amount. This was for a three year lease...Of course, I would rather be in Nawlins!

[Geoff B]

Shane. Landlords are more likely to deal on free rent and TI(tenant improvement) than price/sq ft. If they go to sell a center their center is worth a multiplyer x the avrg net rent over the last year. Therefore, if they can give you a few months rent free up front or pay for $20k for your improvements, there center will be worth more when they go to sell it as apposed to having you in a lease that is a couple of $ cheaper per sq ft. Maybe ask for both a couple of months free + $10k for improvements.