Hi, and welcome to Episode 010 of the Corporate Real Estate Podcast, brought to you by LeaseSmart.com. Your host is Craig Melby, the founder of LeaseSmart, whose objective is to find companies the best facilities and get them the best terms, making their business more profitable and less vulnerable to future, unpredictable circumstances.
Craig is joined by guest interviewer Brian Waldrop. The Corporate Real Estate Podcast strives to make businesses more profitable through wise site selection and lease negotiations. In Episode 010, Craig talks to us about what kind of things they are seeing right now and one issue that renters are having with their leases is dealing with their holdover clause.
The holdover clause refers to the amount of time you stay beyond your lease term. If the landlord has a new renter scheduled to occupy the space, your overstaying could cause a problem. That is why the holdover clause usually includes a severe rent increase. Before you sign, ask for this to be reduced so that when the time comes, if unforeseeable circumstances make your leaving on time impossible, you’re not devastated financially. Thanks for listening! Continue reading “10 – Lease Landmine #4: What a “Holdover Clause” is, and How it Can Bite You Hard!”