Of all the
lease clauses under the sun, none are more awkward for a tenant to negotiate
than the language defining their defaults and the associated penalties. It feels so self-incriminating for a tenant
to ask for more flexibility in how late they can pay the rent or more time to
cure if they neglect to pay on time.
No question,
tenants enter into lease agreements with optimism and high hopes for the
future. What a drag it is to ponder
their own failure! But there is always
some probability for administrative mistakes or failure and the need for the
tenant to protect their interests is as important here as with any other clause of the lease that has financial
ramifications to the tenant. Some leases
are drafted by the landlord with draconian terms that penalize the tenant
severely for minor slip ups. An
experienced broker is knowledgeable of fair and reasonable terms that most
landlords will agree to and can help the tenant to save face by going to the
mat on these issues on their behalf.
A good tenant representation broker will insure that all terms of the lease are fair and
equitable no matter how unpleasant they are to ponder!
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