My article came from The New York Times and is entitled Recession Has Landlords of Retail Tenants Extending Discounts of Their Own (Link at bottom of post). This article discusses how the current economy is leaving many retail businesses without ways to pay their rent and how many landlords are lowing rent and being lenient with rent due to the concept that they will not be able to re rent the space. Some landlords is NYC are helping out their tenants and offering to help pay taxes or even lowering the cost of rent. They are acting on the concept that some cash is better then nothing. With the recession many tenants have leverage over their landlords. In the past landlords with terminate leases or not renew them because they believed that they could find tenants willing to pay higher prices. If more landlords were willing to negotiate rates with their tenants or even help them in paying taxes, this could help to keep many more stores in business. Many smaller stores are being forced to close due to the hard economic times. My dad and brother shop at several small gaming stores in the Raleigh-Durham area. One of these stores closed at the end of 2009 due to not having enough business. If landlords could be more flexible with rent rates it could help smaller mom&pop stores survive the economy or at least give them a fighting chance.
http://www.nytimes.com/2009/02/01/nyregion/01leases.html?_r=1&em
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