Conditions Ripe For Tenants To Renegotiate Leases
The coronavirus pandemic has unsettled the economy like no other event in modern history, prompting some office tenants to hunker down and put off big decisions. But by emptying out offices, the crisis also upended what had been a landlords` market, and tenants with leases set to expire over the next few years now have a big advantage.
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RSK: There will be negotiations but that will trickle down in the terms of a lease I am sure. Plus not every sector in every market area will suffer. Industrial has thrived; Retail has suffered. Rents typically depend on the strength of ownership. Some are better positioned than others affecting how they can collaborate and work with tenants. Covid Buy-Out clauses are real.



- - Volume: 8 - WEEK: 40 Date: 9/29/2020 8:20:27 AM -