What is the appropriate way to calcluate the compensation for that type of transaction. We both rent in an area that is mixed use commercial/retail/residential. He doesnt really have an option to expand anywhere but, my living space. Any advice would be welcome.
Not knowing your area’s market, I would suggest that you look for properties in the general area that are retail/business and for rent and ask them what the charge for square foot is.
Compare that to what you are now paying for your square footage take the difference between the going cost for retail/business cost per square foot and what you are paying for yours.
Then I would compile a cost that you will acquire to move to another residential rental, deduct that from the total of the difference in the square footage you researched. That would give you a figure that you can offer them as the cost for you to move.
Of course anything goes, after all the baby that does not cry does not get fed.
I wish you the best in your negotiations.
I suggest that you talk to the landlord and find some other place for living. Once you have found a suitable place then go to the landlord with the amount that you will need up front to rent the place and ask for their help in getting you settled into a new place so that (your neighbor) may expand. If you think you can manage on your own then don’t bother with meeting the landlord for assistance. Either way you would eventually be told to move if the leaser decides to allow the business to expand.
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Not knowing your area’s market, I would suggest that you look for properties in the general area that are retail/business and for rent and ask them what the charge for square foot is.
Compare that to what you are now paying for your square footage take the difference between the going cost for retail/business cost per square foot and what you are paying for yours.
Then I would compile a cost that you will acquire to move to another residential rental, deduct that from the total of the difference in the square footage you researched. That would give you a figure that you can offer them as the cost for you to move.
Of course anything goes, after all the baby that does not cry does not get fed.
I wish you the best in your negotiations.
References :
How can he expand in a unit that he rents? I don’t think you are owed any compensation if the owner asks you to move because he has other plans for the property, unless he asks you to vacate before your lease is up, which you can refuse.
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