Commercial Lease Modification

Arizona Attorney Ryan Rosensteel does offers a good laundry list of means by which a tenant should approach a landlord seeking a modification of an existing lease. He discusses Rent Reductions, Abatements and Waivers, Base Year Adjustments, Reduction of Space, and more.

I think it is important to remember that when you approach the landlord with your proposal for concessions, that you be prepared to offer the landlord something of value in return. For instance, most landlords want the security of knowing their property will remain leased well into the future. Unless you want to relocate, an offer of an extension of the current lease in exchange for rent concessions is a great place to begin.

Consult with your Commercial REALTOR, who regularly represents Tenants and can give you the benefit of experience in the local market.

A good read for Tenants, Landlords, and Commercial Brokers alike.

ETC