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View Full Version : Lease problem


Fabrik01
05-13-2004, 07:57 PM
acquired my store 2 1/2 yrs ago. doing well but old landlord sold the strip plaza recently. i have 2 1/2 more years and another 3yrs option on my lease but new landlord wants to increase my rent. I know it will never happen. other tenants are planning to move when their time expires. The plaza is not really in good shape but prime location. I don't know if moving to another plaza close to this location is a good idea for me to do when my 2 1/2 years more is over. Any advise is welcome and thanks.

actionmedia
05-14-2004, 02:10 PM
Sell it and start over somewere else.

petefritz
05-15-2004, 04:22 PM
Much depends on the rent and how much your gross is. If the rent goes over 25% of gross, you are starting to work for the landlord, not be a tenant.