How can we get more time added to our commercial lease?

Hello, and thank you for your question! My name is Dolan, and I’d be happy to help with this. I carefully review each question and provide responses based on my years of hands-on experience as a lawyer.

Negotiating a lease extension is a common situation, and the key is starting the conversation early to avoid rushing at the end of the term. Here are the steps I recommend:
1. Review Your Current Lease: Check if it includes an option to renew. Many commercial leases have renewal clauses that outline the process for extending the lease.
2. Assess Your Needs: Decide how much additional time you want and whether you’d like to renegotiate other terms, like rent or maintenance responsibilities.
3. Start the Conversation Early: Contact your landlord soon to express interest in staying and ask about their willingness to extend the lease.
4. Propose Terms: Be prepared to negotiate. You can offer incentives, like agreeing to a modest rent increase, if needed.

Could you let me know if your lease includes a renewal clause? That will determine your options.

Thanks for clarifying. If your lease doesn’t have a renewal clause, you can still negotiate an extension or a new lease agreement. Since you’ve been a tenant for five years with stable rent, your landlord may be inclined to work with you.

Here’s what you can do:
1. Draft a Proposal: Outline what you want in the extension, including the duration and whether you’d like to keep the same rent or adjust it.
2. Highlight Your Value as a Tenant: Emphasize that you’ve been a reliable tenant, paying rent on time and maintaining the property.
3. Reach Out in Writing: Send your landlord an email or letter expressing your interest in extending the lease and proposing a meeting to discuss terms.

Would you like help drafting an initial message to the landlord?

Understood. I’ll draft a polite and professional message that expresses your interest in extending the lease while proposing to maintain the current rent.

Here’s an example:

Subject: Request to Extend Lease for [Property Address]
Dear [Landlord’s Name],
I hope this message finds you well. As you know, our current lease for [property address] is set to expire on [expiration date]. Over the past five years, we’ve greatly appreciated the opportunity to operate our business in this space and value the relationship we’ve built with you as our landlord.
We’d like to explore the possibility of extending our lease for an additional [desired term, ex: 3–5 years] under similar terms, including maintaining the current rent amount. We’ve been very happy with the space and hope to continue our business here.
If you’re open to this discussion, I’d love to schedule a time to connect and work out the details. Please let me know what works best for you.
Thank you for your time and consideration.
Best regards,
[Your Name]

Would this work for you?

Good question. If the landlord wants to increase the rent, you can negotiate based on:
1. Market Rates: Research rental rates for similar spaces in the area. If your current rent is already competitive, you can use that to argue for minimal increases.
2. Long-Term Lease: Offer to commit to a longer-term lease (e.g., 5 years instead of 3). Landlords often value stability and may agree to better terms in exchange for a longer commitment.
3. Shared Costs: Propose sharing the cost of upgrades or maintenance to offset a potential rent increase.

Would you like me to help draft a counterproposal in case this comes up?

It’s best to send the email as soon as possible, especially since your lease expires in six months. Starting the conversation early gives both you and the landlord plenty of time to negotiate and finalize terms.

Once you hear back, let me know how the landlord responds, and we can adjust your approach if needed.

Yes, you’ll need to formalize the agreement with an addendum to your current lease or a new lease document. The addendum should specify:
1. Extended Term: The new duration of the lease.
2. Rent Terms: Whether the rent stays the same or changes, and the payment schedule.
3. Other Adjustments: Any updates to responsibilities, like maintenance or utilities.

I can help review or draft the addendum to ensure it’s legally binding and protects your interests. Let me know if you’d like assistance with that.

Reviewing a lease or addendum typically costs $*** - $***, depending on the document’s length and complexity. If you need me to draft a completely new agreement, the cost would be $***.

This ensures that everything is clear and legally enforceable. Does that work for you?

Sounds like a plan. Keep me posted, and I’ll be here to help with the next steps.

If you’re happy with the advice I’ve provided so far, I’d really appreciate it if you could leave me a review once this is resolved. Your feedback helps me assist others in similar situations.

Best of luck with the landlord!

Fair enough! Take care, and let me know if you need anything else.