Hippos are very territorial; ants, not so much. Large tenants are very territorial; small tenants, not so much. Protecting some sense of dignity, we’re not going to tell readers how hippos protect their chosen turf. Find out on your own. In the retail leasing context, we equate “territorial” with “site plan control.”

Though it hardly needs to be said, we’ll do so anyway. Landlords reluctantly allow tenants any right other than the right to pay rent. We don’t really mean that, and it isn’t actually true, but it gets an idea across. More fairly stated, landlords prefer maximum flexibility in the use of their property. Of course, that flexibility can be substantially achieved  by keeping the property vacant. That, of course, defeats the reason for owning rental property and, thus, landlords will compromise flexibility for money. [Read more…]