If you are a tenant in a weak financial position, you have more negotiating power compared to tenants with financial strength. A complete reversal of “normal” market mechanisms. Landlords do not want to lose tenants, as replacing them in this market is difficult. If you are in the range where you are not doing well you have more leverage on your landlord. The weaker the tenant, the more bargaining power. Understanding your lease is essential. Shorter term leases have more bargaining power. Do you have an option to buy?
If you have any questions on your lease negotiation contact GE Grace. With over 30 years of experience, our brokers are experts at navigating these uncertain waters.