Working Together

Here’s in interesting story in The New York Times about a landlord in New York City offering to help out a retail tenant who owes close to $14,000 in back taxes. Why is the landlord helping? Because the retail leasee is a good tenant that draws traffic.

The lesson here is that the recession is causing businesses and property owners to reconsider prior “power dynamics” — which often favored building owners. Flexible arrangements are now a necessity as tough economic times create a more symbiotic relationship between between tenant and landlord.

— Arthur Zaczkiewicz

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