- Introduction
- Acknowledgements
- 1: Getting Ready
- 2: The Costs of Space
- 3: Understanding Credit
- 4: Professional Services
- 5: Finding Space
- 6: Residential Leases
- 7: Commercial and Industrial Leases
- 8: Buying Real Estate
- 9: Types of Mortgages
- 10: The Mortgage Application
- 11: Ownership Models
- 12: Purchasing Alternatives
- 13: Chicago Zoning Ordinance
- 14: Chicago Building Code
- 15: Chicago's Neighborhoods
- 16: Property Taxes
- 17: When You Find a Property
- 18: Inspections
- 19: After Moving In
- 20: Insurance
- 21: Utilities
- 22: Rehabbing Your Space
- 23: Safe and Healthy Spaces
- 24: Green Practice
- 25: When Disputes Arise
- 26: Space Emergencies
- 27: Facility Development Planning
- Bibliography
Rent Increases
Most leases include terms for rent increases. If your annual rent increases are based upon market rates, or a publicly available index (indicators and formulas used in the financial market), try to negotiate for a cap on the amount of each increase, or try to delay the initial increase for as long as possible.
Develop a fair understanding of market rents in the community where you want to lease. This will put you in a better position to negotiate lease rates and other terms. A real estate agent can be very helpful in this regard.
You can also review on-line real estate services such as Commercial Forum or CCIM to get an idea of advertised rental rates in a community. See Chapter 15: Chicago’s Neighborhoods for additional information and lease rates for specific communities.