According to the National Association of Realtors (NAR), the vacancy rate for office spaces in the U.S. reached a new high of 12.9% in the first quarter of 2023, compared to 12% in the previous year. The impact of the Covid pandemic has led to a mixed scenario, where some employees are gradually returning to the office, but hybrid and remote work arrangements have become a permanent fixture. JPMorgan Chase is among the companies instructing employees to resume in-person work, while others like Amazon and Apple are adopting a part-time office attendance policy.
In light of these developments, businesses that are contemplating lease renewals or entering into new leases may find themselves in a favorable position to negotiate lease terms. During these negotiations, tenants may consider insisting on the inclusion of a "good guy clause." This particular clause can provide tenants with added flexibility and protection.
To gain a deeper understanding of the benefits and implications of a "good guy clause," we recommend reaching out to one of our attorneys for a consultation. They can provide expert guidance tailored to your specific needs.
This is not legal advice and is attorney advertising
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