Updated almost 11 years ago on . Most recent reply
Lease help
Hello all, I need some advice suggestions. I have a 10,000 sq ft building that is I was going to develop into mini strip mall, but i have a prospective tenant wanting to lease the whole thing. Assuming we agree on price and terms, what is a common or customary rent increase per term? per year? I am giving him a very low rent as he will be doing al the improvements on the property but after the first term or a couple years i want the rent to increase. Also, in case of offering a right of first refusal clause how do you price the builidng after he has done the improvements but i have taken a low rent for a few years in order to have a fair but adequate price for both. I am not very interested in selling the property but for the right price, I will entrain the offer. thanks in advance and appreciate your input.