“Blend and extend” is a term describing a reduction and restructure of rents in exchange for an extension of the lease term. Tenant needs change over time and most Landlords will consider revising your lease, adding tenant improvements or reconfiguring space when the alternative would be to lose a Tenant.
Brock will review your contract and go over current needs giving you the opportunity to solve problems with your lease and get up to speed with current market conditions.
Lease review items include the following:
- Renewal & extension option review
- Operating Expense pass through items
- Common Area Maintenance Expenses
- Sublease Requirements and procedures
- Default clause interpretations
- Tenant improvement restoration
- Changes in property ownership
Renewal and extension options often have restrictions stating “the new rental amount cannot be lower than the last rental amount paid under the contract.” Language like this can make the renewal option unfair if market rents for comparable space are lower. Brock can review your lease to prepare for exercising renewal or extension options and greatly increase your leverage in negotiations by providing alternatives for relocation and cost savings.