Negotiating a Retail Renewal in the Middle of a Pandemic
My parents run a small furniture and interior design shop in a very small upscale mall. Their lease is up in a couple of months and would ideally like to renew, but obviously the economy isn't going to be what it was for the past few years.

\- What kind of discounts are people seeing over last year's rents?

\- Their previous contract did not have a Force Majeure clause. What additional clauses would you include to protect against downside going into a weak economy?

\- How many free months would you be asking for?

\- What would the best lease term structure be?

I realize contracts are a lot more complicated than the basic questions I'm asking, but I mostly trying to gauge temperature on what the market is seeing and anticipating for the next year in order to best position them for negotiations. Thanks in advance.
[{"id": "fm9xfp0", "text": "I would recommend engaging a broker to do this for you. \n\nIn general, I would be very cautious about negotiating a long term deal at an upscale mall until we know how this is going to shake out. I would contact the LL and see if you can go month-to-month or sign a 6 month extension.", "replies": [], "depth": 1}, {"id": "fmbx3wt", "text": "To even give an educated guess we\u2019d have to know things like the exact location, current and past rental rates, square footage, sales data, time at the property. Call a broker, this isn\u2019t a question for the Internet.", "replies": [], "depth": 1}]