Can I Negotiate Lease Length and Flexibility With Landlords?

Many people get a lease and just sign it after they read it over. Whether you are a commercial or residential tenant, you shouldn’t just sign whatever the landlord hands you. You may have a chance to negotiate some important parts of your agreement, like the lease length, with your landlord. A New York City commercial lease dispute lawyer can help you make a convincing case and get a lease that’s more to your liking.

What Are Some Benefits to Negotiating Lease Length?

There are a few benefits to negotiating a longer lease length when possible. If you are renting an apartment or house, you are getting more stability for a longer time. You don’t have to worry about looking for a new place to live for a while. Obviously, a longer commercial lease offers the same kind of benefit, but for your company.

A lease also locks in some important terms, notably the rent price. A landlord cannot change the rent on you while your current lease is active. So negotiating a longer lease length can keep your rent lower and keep this cost predictable for a longer amount of time.

What Are the Limits to Negotiating Lease Length?

Unfortunately, most residential landlords are going to be wary about going beyond a two- or three-year lease. The market can change and they are going to want to keep up if prices increase. Locking in a lower rent for a longer amount of time can cost them potential profits, even if that means they have a stable tenant for longer and they do not have to deal with the hassles of searching for someone new to occupy the space.

Commercial leases are often longer by default, but it still may be hard to negotiate for more than a few extra years on your initial agreement. However, there are many other aspects of a commercial lease that can be discussed, and that could give you leverage when negotiating lease length.

Do Commercial Tenants Have More Leverage?

A commercial lease is usually a bit more complicated than a residential one, and there are more ways for landlord and tenant to split costs and responsibilities. Sometimes taking on extra obligations as a tenant, like the property tax bill or maintenance of common areas, can allow you to push for concessions elsewhere. This could allow you to get your desired lease length and more flexibility in your agreement.

Do I Need an Attorney?

Having an attorney on your side can help during negotiations, especially if you are signing a lease for a commercial property where there are so many more considerations that have to be made. At the very least, having a lawyer look over the proposed lease agreement to ensure that the needs of your business will be met is a good idea.

Meet With Our Legal Team

So if you have plans to negotiate with your landlord, it might be a good idea to talk to our lawyers about how to approach the process. Contact Robert Rosenblatt & Associates to schedule a consultation today.