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New York City Leasing Information - Definition of Fair Market Rental Rate

In the event a fixed rate renewal is not pre-negotiated, a provision should set forth the guidelines by which landlord and tenant, in the future, will agree to the fair market rate with regards to expansion or renewal rights. This provision should cover timeframes with regard to notification and acceptance and address arbitration procedures.

The Six Step Approach
Step 1: Analyze Requirements
Step 2: Analyze the Market
Step 3: Identify Opportunities
Step 4: Goals and Objectives
Step 5: Develop Strategy
Step 6: Execute Strategy

Key Issues in a Lease
A Tenant's Perspective
Non-Disturbance
Non-Disturbance and Memorandum of Lease
Tenant's Rights to Make Repairs
Assignment and Subletting
Abatement of Rent When Tenant Is Prevented from Using Premises
Quality of Construction-Standard for Maintenance, Repairs & Operations
Definition of Fair Market Rental Rate
Default by Tenant
Operating Costs, Taxes & Utilities
Tenant's Indemnification
Administration Fee

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