112: Landlord Negotiation Talk With Attorney Adam Trenk

In this episode, Tim and Randy will be joined by Adam Trenk, an attorney and partner at Rose Law Group based out of Scottsdale, Arizona. Adam represents both tenants and landlords in a lot of cases and is going to talk about landlord lease agreements especially in the context of all the changes that have been going on in the gym ownership community due to the COVID-19 pandemic. Tim and Randy invited him over to the show to help gym owners navigate the uncharted waters they’re in right now, so they can hopefully get out of this ahead.Adam is already working with gym owners, and he recently negotiated on a gym owner’s behalf with their landlord to get them a smooth deal for their gym. He got a three-month moratorium on rent payments and an agreement that the lease would then be extended by three months, and the landlord also agreed to waive some of the common area maintenance charges and reduce the base rent for the next 12 months once the gym owner restarts rent payments. That may turn out to be a smoking deal only if the economy is able to turn back on, but if not, then Adam may have to go back and try to renegotiate with the landlord. In that particular instance, the gym owner wanted to seize the moment because the governor of Arizona had just issued an executive order putting a moratorium on all commercial evictions and the renegotiation worked really well to the gym owner’s benefit. Stay tuned to learn more about the options you may have with your landlord during these forced closures so you can save your gym business and get the chance to open back up after the storm with these difficult times is gone.Key Takeaways:Negotiating and getting smooth deals for gym owners’ benefits (02:54)How tenants are having a little more leverage in the deal this time round (05:03)What to do before trying to negotiate with the landlord (09:11)Helping yourself instead of waiting for government assistance (15:03)Researching what's going on in your specific jurisdiction and being realistic and proactive (18:45)What the force majeure clause means and business interruption insurance 101 (20:01)Playing out all the inevitabilities and having an idea where to go (27:53)The value of finding the opportunity in chaos (30:48)Additional Resources:Adam’s Email Address - ATrenk@RoseLawGroup.comwww.CLACourse.comwww.ProFitGPS.netMarketing Talk with Fitness Professionals Facebook Grouphttps://PFMarketingSolutions.com/Datawww.PFMarketingSolutions.com/Automationwww.ProfitGPS.comwww.PFMarketingSolutions.com/Call--If you are interested in a free audit for your gym, visit http://bit.ly/free_gym_audit--You can find out more about Tim and the strategies covered in this episode by checking out our website.--Would you rather watch the video version instead?Head over to our YouTube channel to watch this episode by going here--If you don’t already have my book, get your copy FREE here.--Connect with Tim:Schedule A CallFacebookInstagramLinkedInConnect with Randy:FacebookInstagram--Subscribe to the podcast on Apple, Spotify, Google, Stitcher, YouTube or anywhere else you listen to your podcasts.If you haven't already, please rate and review the podcast on Apple Podcasts!

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