Commercial tenant ask for 50% off for third month
Hi all, I have gave my comercial tenant 2 month 50% off on rent. Now they are asking for 3rd month off for 50%. We are located in New York which is reopen on June 9th as first stage.
I am thinking of giving two option.
1) 30% off this month
2) pay 60% now and defer 40% rent after 3month.
This case is different as they are Comecial tenant who is on restaurant equipment business.
Personally I am little upset that they ask for 3rd month 50% off. Instead they should ask for 30% off as things are reopening.
Thanks
Most Popular Reply
Don't be upset...just say NO. Let them know that you were pleased that you could half the rent for the them for two months but with the reopening comes new opportunity and responsibility. Tell them that 30% is your best and final rent reduction for month three as you too have financial obligations to meet.
You've been more than generous. I find that whenever we reduce rent, tenants get the expectation that if you did it before - you'll do it forever. Time to get to that "game over" phase.
Just one opinion...you'll get lots. Hope it helps. (And, congrats on getting to reopening!)