With the recent surge in the commercial rental market in New York City and Westchester many small businesses who signed long term retail leases over the last few years are finding themselves in a great economic position. Unfortunately for some of them it means that they now have an unhappy landlord who wants to find a way to evict them from their business and replace them with a new tenant who will pay a higher rent.
Lately I have been receiving a lot of calls from retail tenants who have been getting pressure from their landlords to renegotiate their current lease while providing no benefit to the tenant. Sometimes these calls come after the business owners have signed the landlord’s paperwork without understanding what they are signing.
I just recently consulted on a case in Harlem where a tenant who was up to date on his rent and lease obligations signed documents converting his below market rate lease which was to run for many more years to a month to month tenancy. There was no conceivable benefit to the tenant for this and he was pressured by his landlord into signing these documents. Needless to say, about six weeks later the landlord moved to end the month to month tenancy and recapture the space. If you have been getting these types of calls and notices from your landlord you need to speak to an attorney right away. Signing any paperwork that you do not understand can cause you to effectively lose your rights to your space and be quickly evicted by your landlord.
Restaino Law, LLC has years of experience in dealing with commercial landlords and can protect your rights. We will also be able to explain in plain terms what your landlord is attempting to do and the best way to protect yourself and the business you worked so hard to build. If you find yourself in this situation you should make an appointment with Restaino Law, LLC as soon as possible and be proactive in dealing with your landlord.