Yes. I don't remember the exact percentage increase, but it's a small
percentage increase each renewal from our current rent. Given the way
Austin is growing, that felt the safest route to protect against rising
rents in the future!
I also have an additional 5 year renewal option, but with no rent
protection; so depending on market rates then… who knows?
:)
Shelley
----------------------------------
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On Thu, May 11, 2017 at 11:04 AM, Jerome Chang <jer...@blankspaces.com>
wrote:
> Wow, sounds like a great deal. In LA, typically a renewal option rate is
> set to 5% below the new market rate. Did you lock in based on your current
> rate?
>
>
> *JEROME CHANG*
>
> talk to us: (323) 330-9505
> chat w/ us: http://www.BLANKSPACES.com/chat <https://lc.chat/now/7173741/>
>
> *WEST: Santa Monica* | 1450 2nd St (@Broadway)
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> *EAST: Downtown* | 529 S. Broadway, Ste 4000 (@Pershing Square)
>
> On May 11, 2017, at 8:51 AM, Shelley Delayne <he...@orangecoworking.com>
> wrote:
>
> We opted for a middle-ground lease: 5 year initial lease, with (2) 5 year
> renewal options with fixed/pre-negotiated rent increases for each. So, a
> total of 15 years that I know what our rent would be in the space where we
> are. It gave our landlord some assurance that we're in it for a reasonable
> length of time, without totally locking me in for fifteen years from day
> one.
>
>
> :)
> Shelley
>
>
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