I am leasing a retail space in the Riverside area. Its been a little over 3 years and I need a rent reduction. I struggled the last year and I need a little help to get back up to par and hopefully the economy will upswing and get me back to where I need to be. I was advised to send my landlord a letter. I think that if I reported that other landlords have helped out their tenants during this low time in the economy it would help my chances.
I have been a great tenant. I have upgraded the space. Keep it tidy. Take care of any repairs and plumbing on my own. Any suggestions?
thanks!
If your LL appreciates having you as a Tenant, you could do a "blend and extend." This means you can offer to extend your base term by a few more years for a rent reduction now.
The benefit here is that you may be able to get a reduction in your monthly rate and the LL gets the benefit of locking in a tenant for a couple of more years.
Please note that this suggestion assumes that you are already paying a high rent (or maybe even above market rent). If the LL can just re-let your space fora higher price then this will suggestion may not work.