Reply to The sheer number of empty storefronts in nyc these days is an eyesore

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[quote=Anonymous][quote=Anonymous]I'm only surprised that it took so long for this issue to come to the forefront. Retail leases are an absolute ripoff and I never understood how smaller businesses could survive without the financial backing that the corporate chains have. Retail leases are minimum 3-10 years long. How in the world are you supposed to get out of a lease that long if your business ends up failing in the first year or two (which is when most small businesses will fail) if you're still on the hook for another 1-8 years of rent? Additionally, all retail leases pass along the landlords own repair/maintenance/marketing/advertising costs and responsibilities onto their tenants to pay. So, for example, if the HVAC system that was installed in your building 15 years ago fails during your lease term the small business is on the hook to replace it regardless of the fact that they don't own the property and can't take the HVAC system with them when they leave. Add to this drastic rent increases upon lease renewal and it's a recipe for failure. How would the typical nail salon, hair salon, cafe, coffee shop, bakery, bike shop, etc ever weather those situations and survive?[/quote]

On the one hand, a small business should be in demand by people. On the other hand, a high rent implies either an increase in prices or the wonders of marketing) I know the owners who changed signboards and window dressing every year to attract new visitors - https://fortunasigns.com/service/sign-installation-company-nyc/ I think this option is more suitable for small cafes or a retail store. I wonder how mini bakeries or car repair shops survive in such conditions ..[/quote]

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