To Renew or Not to Renew…
- Aug 24, 2018
Would your tenants renew their leases with you? This month CPE and Kingsley Associates explored some reasons why renters choose to stay…or go.
“We are always looking for flexibility in lease terms and conditions. Many landlords have boilerplate terms and conditions and react negatively when they are changed.” —Office, Jacksonville, Fla.
“Our lease was up and we were concerned our corporate office would move us. We asked to stay and it appears that they have listened to our request. We really do love it here. Sometimes the decision to renew is just out of our control.” —Office, Sacramento, Calif.
“Upon renewal, we requested a proposal for downsizing and making our space more efficient. However, ownership declined to consider, but didn’t convey their disinterest until it was too late to do anything about it.” —Office, Atlanta
“The timeline to complete the renewal process was too long compared to several other lease negotiations. This was not reflective of the local management staff, but agents involved and the response time from corporate. We will be going elsewhere.” —Retail, Melbourne, Fla.
“We are currently in the process of renewing our lease and the landlord is not accommodating at all. It is very clear to us where there are so many empty spaces in this shopping center.” —Retail, Birmingham, Ala.
“When we call the office, we typically do not get a call back for days or sometimes weeks. The only time property management is insistent and proactive is when they need money. Lease re-negotiations are troublesome.” —Retail, West Chester, Pa.
“Getting a tenant improvement allowance when renewing the lease would be helpful to both the tenant and the owners. The stained, dirty, sallow look reflects on the clinic and also the building as a whole.” —Medical Office, Hendersonville, Tenn.
“We had to review the lease to determine how to renew. It would have been nice for someone to have contacted me.” —Retail, Jackson, Miss.
“Give existing long-term tenants a discount on renewing their lease. Don’t waste the CAM charges on ice cream socials and excessive landscaping. When there’s an issue, follow up on it instead of hoping it will go away.” —Industrial, Santa Clara, Calif.
“We have been tenants in this exact office for 20 years. We would appreciate the normal improvements of an office that has been leased for 20 years, such as new carpet, wallpaper, paint, flooring, etc. without being responsible for the cost.” —Medical Office, Alexandria, La.
“I got terrible customer service from the building management from the moment I took over the lease. It’s definitely something we are considering as our lease comes up and greatly influencing our renewal considerations.” —Office, San Francisco
“We tried to add additional space, but the building’s response was very slow and dismissive. We’re picking up a new lease, for the additional space, in a different building.” —Office, Washington, D.C.
“We wanted a shorter lease for various reasons. We were hoping our lease history would mean something, but it didn’t matter to corporate at all. I know it’s all about profit and the market is not in our favor right now.” —Industrial, Centennial, Colo.
“A tenant for 10 years should be welcomed and feel wanted instead of trying to negotiate terms like a new tenant.” —Retail, Pittsburgh