SHOP IDEA: Time to Renegotiate Your Lease?

The real estate slump has impacted commercial property just as it has residential. This may be a good time renegotiate your lease, particularly if you can demonstrate your business is going through a tough period. One commercial property agent recommends asking for short-term relief – a 25 percent rent abatement for the next six months, for example – rather than a reduction for the remainder of the lease.