"Extending and pretending." Good Lord. I've always wondered why storefronts sat vacant for so long... figuring some rent would be better than no rent, right? But this explains a lot.
Sometimes it IS the landlord wanting too much money…but sometimes their hands are tied. Without knowing the full scope of the owner’s financial situation, it could be either.
I’m aware of two smaller commercial property owners who worked with small business owners on rent pricing, but they owned their properties outright.
This is convincing and distressing. Banks and commercial owners need to face reality. Until then, LA will suffer.
Not just LA. I read an article today about New York losing a lot of small restaurants because rents have risen so much.
"Extending and pretending." Good Lord. I've always wondered why storefronts sat vacant for so long... figuring some rent would be better than no rent, right? But this explains a lot.
Sometimes it IS the landlord wanting too much money…but sometimes their hands are tied. Without knowing the full scope of the owner’s financial situation, it could be either.
I’m aware of two smaller commercial property owners who worked with small business owners on rent pricing, but they owned their properties outright.