Commercial Tenants: Leverage is the Key to a Better Lease Deal
Contributor: Gary O'Brien Podvey Meanor P.C.
SUMMARY: The economy of 2009 may be the worst in nearly 80 years, but this poor economy brings great opportunity for commercial tenants.
The commercial leasing market is very favorable for tenants right now, so tenants should take advantage and renegotiate their current leases or seek new leases for other space. Tenant favorable market conditions do not come around that often (which overall may be a good thing), so tenants should strike while the iron is hot.
Tenant lease negotiations, whether for a lease renewal or new lease, are largely about leverage. There are strategies that a tenant can follow to maximize its leverage to obtain the best possible lease deal.
Gary O'Brien, Esq.
973-623-6892 (office)
www.garyobrien.net
