Provided by:  Jennifer Kirschenbaum, Esq.
December 10, 2020

Question:

Hi Jennifer,

Are you seeing better deals now being offered by Landlords? I am starting to look for new space.  I will be sending over the lease when I get it.  


Thank you, 
Dr. L

Answer

Landlords, in general, are wired to weather hard times, understanding their tenant relationship is long term, which is why I have not seen notable flexibility in many terms, provided, rents seem to have slid a bit depending on geography.  Where I am also seeing some slim movement is on obligations during a shutdown - which in some instances can be negotiated, as can potential default timelines in the lease.
 
It is important to request key terms early in the process.  If a letter of intent is being negotiated prior to a complete lease presented, be sure to send the terms over.  If we wait to negotiate key terms, we will lose leverage.