I get a pit in my stomach every time lease renegotiation season rolls around. My landlord has been nothing but kind to me since the day we signed our first lease, but the occasionally contentious nature of these conversations is often unavoidable.
If your commercial lease is expiring this year, and you intend to renew, start the dialogue as many as six to nine months out. A good landlord should do this for you. Unfortunately, many of us have less-than-good landlords.
We can’t be certain that they don’t intend to sell the building. We don’t know for sure that they even want us to stay. Maybe our landlord’s son is taking over the business and intends to triple our rent. He doesn’t, after all, have the same emotional attachment to my business that his father might have, right?
We can’t afford to begin a new property search 30-90 days prior to needing a new home. The optimal time to open this dialogue is now. Any property owner who intends to retain your business will gladly revisit this conversation as soon as you’re willing to have it. If the answer to your request is vague or deflecting in nature, begin your search elsewhere immediately. The writing is on the wall.
-Pete
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