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Updated about 2 years ago on . Most recent reply

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6
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1
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Tania Leung
1
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6
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Do you wait for National commer. tenant to contact you about utilizing their option?

Tania Leung
Posted

For National Commercial Tenants, do you wait till they contact you at their required 6mos notice date or do you as a landlord, contact them to ask them what they plan to do 7-8months out from lease ends?

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41
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36
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Cody J Leivas
  • Real Estate Consultant
  • Rancho Mission Viejo, CA
36
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41
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Cody J Leivas
  • Real Estate Consultant
  • Rancho Mission Viejo, CA
Replied

Depends on your strategy. It should spell it out in the lease and typically the tenant is the one that needs to provide notice to exercise a renewal option. 

If you would like them to renew or extend, you'll want to be proactive. 

If you believe that the space would be easy to fill at a higher rent then you should wait to see if they reach out. If they pass the 6 month notice date, you will have more leverage and have the ability to begin marketing the space. 

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