Commercial tenant lease

[Nicole Assali]

Hi everyone, So i just bought this commercial retail building and one of my tenants is a driving school. The lease is coming up for renewal and basically this is what they are asking for : 1-Changing the lease by adding a clause that allows them to walk away from the lease after 6 months notice if the government changes the law and makes the driving classes (classroom theory) non mandatory. (they currently are mandatory) They said they would go bankrupt anyways if they couldn't walk away from the lease. Is this reasonable for me ? Better to get paid for 6 months and find someone else vs maybe not getting paid anything ? 2-Giving them two months free of rent as business is bad and the increase in labour costs/minimum wage and also the limit they have on charging for their classes set by the government has them operating at a loss at this location 3-No price augmentation for lease 4-They will commit to a 4 year lease, with option to cancel after 2 years only if they decide to leave the region/close their locations in our town. They are very good tenants otherwise, always paid on time with postdated checks (less headaches than our other tenants) they have the worst unit in the building with low visibility, would be hard to find other tenant of same quality for that unit, they took it because we are beside a high school. They are a franchise and have 50 locations. They wanted another of our unit which is occupies by a hair salon currently, the hair salon does give trouble with late payments sometimes, but we are keeping them there as we know it will be very hard to fill the unit of the driving school. Are we better off kicking out hair salon (lease ending with no renewal) and putting driving school there for better long term outcome ? We also fear loosing driving school if business stays bad for them Also i have this situation with my other tenant: In the lease it says they need to give me postdated cheques, but they dont, i asked for them many times, they say they will but never end up doing so, im always running after them every month and it's getting exhausting, don't want to cause issues with them neither, business is going soso, they pay but cause me a headache Also my last question was : is there any benefit in getting leases published ? What are the advantages ? Banks will lend easier ? Doea anyone ask for proof of insurance from your tenants ? Like copies of actual insurance documents ? Thanks in advance !