Thanks Aaron, There's no imminent signs as of right now, but it's a general lurking fear I have. I'm curious to know if there could have been any new language in your lease that might have given you any kinds of protection re: rent increase etc. If none of it would be binding, then so it goes, but I wonder how to put us in the strong position if this even happens.
Cheers, George On Wednesday, August 13, 2014 1:55:15 PM UTC-5, Aaron Cruikshank wrote: > > Hi George, > > We went through this situation at HiVE Vancouver. Nothing bad happened > except for our landlord changed. Do you have a concern that they'll force > you out of the space? I'm sure the building was sold with you factored into > it. No one wants to buy a building without a revenue stream. You're the > revenue stream for the building. > > As a leasee, you don't really have any power in this relationship beyond > threatening to leave the building and forcing them to lose revenue while > they try to find another tenant. > > I think the only potential problem on your horizon is re-negotiating your > lease when your current lease is up. Depending on how much the new owner > paid for the building, they may want to jack up your rent. I would advise > going into that negotiation with some other properties in mind that you > could move to so that it's clear to the new owner that you will walk if the > terms aren't favourable. The new owner most likely won't want you to leave > and bought the building assuming that you'll be a long-term tenant. > > *TL,DR: Unless you have heard something indicating that they're going to > throw you out, all you need to do is start prepping for your lease > negotiations in nine months.* > > Aaron Cruikshank > Principal, CRUIKSHANK > phone: 778.908.4560 > e-mail: [email protected] <javascript:> > web: cruikshank.me <http://www.cruikshank.me> > twitter: @cruikshank <https://twitter.com/cruikshank> > book a meeting: doodle.com/cruikshank <http://www.doodle.com/cruikshank> > linkedin: in/cruikshank <http://www.linkedin.com/in/cruikshank> > > > > > > On Wed, Aug 13, 2014 at 9:10 AM, George Aye <[email protected] > <javascript:>> wrote: > >> Dear Coworking folks, >> >> I've been a long time lurker on the list, and have been constantly >> inspired by the frank dialog on and reading the challenges we all face >> running our spaces. >> >> *A little background:* My co-founder and I started a small design >> office, called Greater Good Studio 3 years ago and after a period of >> running the business from our bedroom, we needed a space to collaborate >> with our team and clients. We came across our current building and started >> renting from our landlord just over a year now. And in a dual effort to >> offset our overhead as well as grow a studio culture, we opened our >> coworking space called The Logan Share <http://loganshare.com>. Our >> focus has simply to make it the most distraction-free coworking space in >> Chicago. >> >> *Our current situation: *We have 9 months left of our current lease and >> we fully expect to sign on for 5 more years. We have been very fortunate >> and in the last 15 months grown from just 1 renter to now 24 renters, >> covering all all our overheads and making a little on the side. >> >> *My questions and concerns:* Has anyone had any experience with their >> building, that they run their coworking space from, sold out from under >> them? Is buying the building outright the only way to prevent this from >> happening to us? Were there any signs this was going to happen beforehand >> that we should look out for? Is there language we should include in our >> lease to prevent/delay/help us so it doesn't happen? >> >> If anyone have experience or advice in this area, I would greatly >> appreciate it. >> >> Thanks! >> >> George >> >> The Logan Share >> 2864 N Milwaukee Ave >> Chicago, IL 60618 >> *The most distraction-free * >> *coworking space in Chicago* >> >> -- >> Visit this forum on the web at http://discuss.coworking.com >> --- >> You received this message because you are subscribed to the Google Groups >> "Coworking" group. >> To unsubscribe from this group and stop receiving emails from it, send an >> email to [email protected] <javascript:>. >> For more options, visit https://groups.google.com/d/optout. >> > > -- Visit this forum on the web at http://discuss.coworking.com --- You received this message because you are subscribed to the Google Groups "Coworking" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
