Story about negotiating rent during COVID-19
how did I convince landlord lower the rent from $12,000 to $3,000
My first restaurant is an Omakase restaurant called IKEBANA ZEN. NYC started lockdown around March 20th. I immediately called the landlord and agreed to pay him $6,000 per month. I kept communication open with the landlord during the lockdown and promised not to leave if he forgave some rent, but he wasn't willing at first. We maintained a good relationship with the building super by offering him free food and drinks. One day, he shared valuable information: every other tenant wasn't paying rent, leaving us as the only ones. The landlord still had to pay the mortgage. I promptly called the landlord, stating I'd close the business if he didn't offer more rent discounts or forgiveness. I knew he couldn't afford to lose my rent; if I left, he'd receive no income from the building. The landlord feared my departure, so I agreed to pay the entire year upfront for $36,000 and guarantee the lease for two years. The second year's rent would be $4,000 per month. I also agreed to use a one-month deposit of $12,000 to cover the owed rent, totaling $40,360.