Renegotiating Your Lease

Renegotiate Your Commercial Lease

Philadelphia Attorneys Helping Businesses Through Challenging Economic Times

The challenging financial climate has strongly affected many small and mid-sized businesses, in Pennsylvania and around the country. More and more businesses are finding it difficult to pay the rent on commercial or retail spaces that used to pay for themselves.

A lease agreement that made sense 3 years ago is now one more monthly financial challenge — a challenge from which some small business owners had to simply walk away.

If your commercial lease has become burdensome, there may be actions you can take that will protect the viability of your business and the integrity of your credit rating. Before you are late on a payment or give up your leased space, talk with a lawyer about the possibility of renegotiating your business lease.

At the Law Offices of Nancy L. Lanard, P.C., we understand the challenges our business clients are facing. We may be able to renegotiate the terms and conditions of your lease.

Both Real Estate and Business Knowledge

Our experienced commercial leasing attorneys have reviewed, revised, and negotiated hundreds of leases for commercial and retail space, including shopping center leases. We understand both the business ramifications and the legal issues involving in commercial leases and failure to meet the requirements of the lease agreement.

Creating Successful Conditions to Renegotiate a Lease

While lease renegotiation is ultimately at the landlord's discretion, there are things you can do to help achieve your goal.

• Be honest with your landlord.
• Talk with the property manager as early as possible — we can assist you with these conversations.
• Begin the conversation while you are still current with your rent. It is easier to enter negotiations as a good and valued tenant. They are more apt to work with you.
• Come in with a plan to demonstrate that you do not want to walk away from the property or your obligations.

Our business lawyers are experienced negotiators, tenacious in representing business clients in lease negotiations. Contact our Philadelphia law office to speak with a business attorney today for help as you renegotiate a lease.