Getting the Best Lease

Retail leases, especially in malls, are more complicated and expensive than ever. The brain-numbing boiler-plate language has gotten longer – many leases now run 100 pages – and a growing number of non-negotiable clauses guarantee landlords a profit to the detriment of their tenants. As these rental agreements bite deeper into revenues, jewelers must get the best contract they can at the least cost. Yet many continue to make costly mistakes when they negotiate or renew their leases. They aren’t alone. According to one lease-auditing firm, up to 90% of commercial leases contain errors – at the renter’s expense, not the landlord’s. Here are tips for sidestepping the pitfalls. Location plays a role. There are big differences in rental contracts for enclosed malls, shopping strips, and freestanding or downtown stores. Malls use thick, increasingly complicated “Standard Fo

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