The Dangers of "Rent-Hopping"

Just two weeks ago, my favorite restaurant relocated when their lease ended. A new shopping complex filled with all of the corporate giants opened across the street, and the owners of the smaller strip mall, where this restaurant and many other local independent businesses are located, are now asking their tenants to renew at FOUR times their previous lease rate. Never mind that these had been loyal, local tenants offering great products and services for years. The increased traffic due to Corporate America's latest shopping complex “justified” the increase in rent. In the business world, this is known as “progress”.

The owner of the restaurant is doing great, at a new location about an hour and a half from my office. I'm happy for him, and his View the rest of this article