reply
by a searcher
1h ago
from University of California, Berkeley
in San Francisco, CA, USA
My approach in the past: Review leases expiry and discuss with seller on likelihood of landlords renewing with particular attention to leases expiring in next few quarters. Affirmative language in LOI that price is continent upon 100% successful renewals. Post-LOI DD, begin convo ASAP. Some landlords are easy, some not so much. Dealing with large property owners/mgrs vs mom and pops may require different tactics. Keep in mind there will be layers between you and owner that require additional time (lawyers, accountants and prop mgrs...each with different priorities, incentives and schedules) Landlords could easily blow deals up so be careful how much sunk cost and resources you incur. Edit: happy to chat if you think it'd be helpful.