The recession has created a vicious circle that has left both small business owners and commercial landlords struggling. With a decrease in business, small business owners either can’t afford their rents or don’t have the need for large office space due to layoffs or a decrease in inventory. These circumstances often compel the small business owner to ask for a decreased rent or to vacate the premises before the end of their contract.
Likewise, commercial landlords only make money by receiving their monthly rental payments and often can’t afford to have their properties sitting vacant for any length of time. Some landlords will renegotiate rental agreements if the contract is nearing its expiration but some landlords are holding firm and saying no to rent decreases.
Successful landlords and tenants are those who develop a respectful relationship with each other. The image of the “big bad landlord” will not necessarily yield good results from tenants who can easily search for other vacant commercial locations.
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