Note for 2019, insurance requirements by landlords are on the rise, not just the amount of coverage on the rise often doubling and tripling, but also the addition of new coverage categories designed to fully protect landlords’ assests at tenants’ expense; no end in sight and no industry standards to rely on!
Negotiate in advance. As always, check the requirements per the lease, well before negotiating the final lease rate and know that the lease rate is the single most effective way to adjust overall costs wherever you may find them in the lease. As John Scatoloni notes, “Be prepared for higher coverage as insurance becomes a barrier for businesses leasing space”.
Contact Encon Commercial for more strategies to reduce and minimize additional costs in leasing commercial space.