All Wrexham market tenants will receive a rent concession
of 25% to help them through the three most difficult trading months of the year - January to March.
To that end, Cassidy Turley's Not-for-Profit Group worked to lock in a deal at an advantageous rent for a premier location, and negotiate a generous work letter and free rent concession
for The Aspen Institute.
City Council member Rosie Mendez also wrote a letter to Cooper Union, stating that "given the breadth of Cooper Union's real estate investments, including the soon-to-be redeveloped 51 Astor Place as a fully commercial building, I believe that a rent concession
More generally though, businesses looking for a rent concession
when trouble threatens should take legal advice and seek formal agreement, whether they are looking for lower rents or a shortening of a lease term.
As a landlord, you may have successfully kept off the registers the existence of a rent concession
in a lease.
I now am in touch with the landlord's administrators and am optimistic that I will be able to agree a short-term rent concession
and longterm a more realistic rent or a sensible price for the freehold.
This could allow the landlord to recoup some of the money it is losing by granting a rent concession
to the tenant now.
A tenant who has serious financial problems is likely to ask for help, usually in the form of a rent concession
Around 1,800 of Punch Taverns' 8,000-plus pubs have been offered some form of rent concession
or additional discount on beer.
8 million, and any unused portion after construction is completed can be applied as a rent concession
on a straight-line basis over the remaining term.
Soon after that, the company raised rents, "and by the middle of December of '09, we were about 85 percent leased," said Jacob, noting that Glenwood has now eliminated the free rent concession
in all of its buildings.
In this situation we did an upfront rent concession
of up to two months of free rent to get the units moving, and prorated these specials until we hit target points.