Landlords and Tenants have opposing goals which can make signing a lease stressful. The key to understanding these negotiations is assessing how risk is shared. At G.E. Grace & Company, we leverage our knowledge and expertise to create flexibility and competitive terms for our clients.
Two years ago, Virginia (not her real name) contacted me to help her find a new location for her business currently located in the Garment District. She had an issue which we can all understand.
We are pleased to present the first installment of G.E. Grace's commercial real estate video series!
If a new building department regulation goes into effect subsequent to the signing of a lease, either the tenant or the landlord has to comply with that regulation. In most cases, the landlord stipulates that the tenant is fully responsible for complying with all laws and regulations. However, it is usually possible to prevent the tenant from being fully responsible for capital improvements. An excellent example of this is retrofitting a space for a sprinkler-based fire prevention system.