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Avoiding Losses When Tenant Requests Option to Expand
BY MICHAEL P. CARBONE Desirable tenants with growing businesses sometimes will bargain for the option to expand their premises into adjacent space at a future date. The difficulty for the landlord is that it must keep that space available for as long as the tenant holds the option.
BY MICHAEL P. CARBONE
Desirable tenants with growing businesses sometimes will bargain for the option to expand their premises into adjacent space at a future date. The difficulty for the landlord is that it must keep that space available for as long as the tenant holds the option.
To do so, the landlord will be able to rent the space only month to month or other term basis. To avoid incurring unacceptable losses while the option remains in effect, the land...
Desirable tenants with growing businesses sometimes will bargain for the option to expand their premises into adjacent space at a future date. The difficulty for the landlord is that it must keep that space available for as long as the tenant holds the option.
To do so, the landlord will be able to rent the space only month to month or other term basis. To avoid incurring unacceptable losses while the option remains in effect, the land...