PDA

View Full Version : re-new lease

laun_dry_good
11-14-2007, 09:01 PM
my store lease ends about 4 years later. I want to continue to do this business so I want to get new 15 year lease from landlord(shopping center mgmt company).
Can you let me know when would be the best time to contact landlord to ask new lease?
1) now?
2) 1 year to 6 month prior to end of current lease?
3) no need to contact from my side? just wait any letter or phone call from landlord about new lease?

Thank you for your advise,
Joshp615
11-14-2007, 10:02 PM
renew it ASAP, get the longest term possible.
Buddy_Amoroso
11-15-2007, 04:45 PM
renew it ASAP, get the longest term possible.

++++++++++
laun_dry_good
11-18-2007, 10:00 AM
renew it ASAP, get the longest term possible.

can you explain why do I have to re-new it ASAP now?? thanks
pete f
11-20-2007, 12:19 AM
You have 4 years left, it could take a couple years to get a deal done. Landlords do not act quickly when time is on their side.
laun_dry_good
11-20-2007, 03:37 PM
You have 4 years left, it could take a couple years to get a deal done. Landlords do not act quickly when time is on their side.

The most worry that I have is ,someone told me, if some body try to contact landlord and suggest that he/she will pay double of the rent if landlord give the space to them,
I don't know this kind of bad thing actually happened or can be happened...
but just curious about it....

as long as landlord does not listen those things, then it should be easy and OK for me to get new lease....
pete f
11-21-2007, 08:15 PM
The most worry that I have is ,someone told me, if some body try to contact landlord and suggest that he/she will pay double of the rent if landlord give the space to them,
I don't know this kind of bad thing actually happened or can be happened...
but just curious about it....

as long as landlord does not listen those things, then it should be easy and OK for me to get new lease....

Anything can happen. Secure the lease, you secure your laundromat business.
Anonymous
11-24-2007, 10:14 PM
I have found most landlords wont write a new lease when you have 4 years. If you sell the store they will give a option on the lease. I have passed on several stores to buy because of the lease and a bad landlord. But that hurts the store owner not the landlord. Good landlords are like gold in my area.