Tech Companies Renegotiating Leases

from the downward-spiral dept

If you drive around Silicon Valley these days you see “for rent” office signs everywhere. There are plenty of completely empty buildings up and down 101 as well. I’ve had friends who work at struggling tech companies try to convince me to sublet office space from them. And, I keep hearing stories about companies renegotiating their office leases. Apparently, it’s a popular past time among tech companies these days to try to renegotiate their leases for much lower rent rates. If you’re a company that has money, it would seem that now would be a great time to find a long terem lease at super low prices. However, not all landlords are willing to lower the rent. One of them is quoted as saying that when rents were going up no one was knocking on his door asking him to raise the rent. Of course, if the company goes bankrupt, they may not pay at all…

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