Don't Renew Lease Without Release from Litigation

Suppose your lease doesn’t give a “problem tenant” a renewal option, but the tenant wants to stay in its space. You might be tempted to allow it to stay if the tenant is important to the synergy at your center or serves some important purpose in your office building. This is your chance to have a frank talk with the tenant to work out any problems you’ve had with it under the old lease and agree to a renewal—but only if the tenant agrees to change its ways.