Corporate Board Room  

We have all read the headlines daily, how these are the worst economic conditions this country has suffered in many years, and possibly the worst since the Great Depression.   Many businesses are suffering as the result of a decrease in consumer spending, job losses and overall anxiety over the fate of our economy.  Although the government has made plans to bail out larger corporations, you may be asking yourself who is going to bail out your small business?  As the economy continues to deteriorate, your company has probably seen a decrease in sales volume and a reduction in payroll.  However, one area that you may have overlooked is your ability to reduce your rent rate.  That’s right!!!   Reduce your monthly rent payments. 

Landlords appreciate good commercial tenants and every landlord fears another empty space.  The retail vacancy rate in the Chicago area rose to 9.1% in the third quarter of 2008, from 8.7% in the second quarter, according to a report by CB Richard Ellis Inc.  The vacancy rate for the third quarter of 2007 was 7.8%.  This report comes at a time when national retailers are closing stores while some are going out of business.  Retail sales have plummeted amid low consumer confidence and a growing sense of sustained economic decline.  Even healthy retailers have curbed back on their expansion plans.  Many believe that with a sustained economic decline, more businesses are destined to fail, which will only increase the amount of available space and provide better leverage for you against your landlord.

In an article dated November 17, 2008 in ChicagoRealEstateDaily.com, Jared Margolis, a senior vice president with Chicago-based development firm RSC & Associates LLC indicated that retail landlords are shouldering a greater share of the costs to build out their tenants’ stores and are structuring rents to provide lower payments upfront and higher payments in later years.  Can your landlord do the same, especially in today’s economy??  Or better yet, can your landlord afford not to restructure your current lease.

Obtaining rent relief and lease modification is possible.  But the best part is you don’t have to do it alone.  Our approach has been proven to be very effective.  You must be prepared and have information readily available before you approach your landlord.  This is where www.LeaseRx.com comes in.  We will customize your Rent Relief Lease Modification Package based on your most recent financial information and current real estate market conditions.  Our experienced team will thoroughly analyze your financial information and the current real estate market in your area.  In addition, as business advisors and licensed real estate brokers, we can negotiate the new lease with your landlord, so your time can be better spent running your business. 

If your lease is about to expire, or if your rental rate is putting you out of business, you should contact us today.  Our team is standing by ready to take your call and begin the process of relieving your rent stress.  You can’t afford not to save your business today.