HI ,
I have a few questions if anyone out there has some knowledge about commercial leases.
I have a small store and my lease is expiring Feb 2013. I am finishing up 7 on a 10. The block was crapola when I moved in and in the past 2 months has started to explode. I have put EVERYTHING into my business, it is my entire life and the only thing that matters to me pretty much. I wish to renew now. Is it to early to request this ?
I sent the LL a short friendly email about a month ago asking what the new terms will be and he did not respond. I am very concerned he will see $$ signs given the fact the neighborhood is changing so much. I obv want to lock it in now and not be left hanging out to dry at the last minute.
A few facts: rent has never been late in 7 years. I have a very very good guarantee from a kind ex. The LL only owns this building and inherited it from a family member. I have put a lot of work into improving the space.
I guess my question is how to approach this and what is the best way to word it etc..
Thank you !!