Blog :: 09-2020
The COVID-19 pandemic has impacted the relationship that landlords have with their tenants across all property types. This article focuses on the office market. With many people working from home, companies are now questioning how employees will use office space moving forward.
- For leases that have expired during these uncertain times, many companies have sought to sign short-term leases, while trying to evaluate the future needs of their employees.
- While traditionally preferring long-term leases, landlords have been very receptive to short-term deals. Keeping a space full or filling a vacancy for a short-term is typically preferable to guessing on how long an office space may remain empty.
Wellness & Airflow:
- Many tenants have concerns regarding wellness, cleanliness and air flow, so they have been making special requests in those regards to landlords. These requests may include an increase in frequency of common area cleanings, availability of hand sanitizer and masks for building visitors, and improving or replacing HVAC systems.
- Landlords have generally been flexible with these requests, provided they are reasonable, as they want to work with tenants to ensure a safe and clean environment for everyone.
- With some employees returning to the office, the demand for parking spaces has increased as many do not feel comfortable/safe taking public transportation.
- Landlords are working hard to come up with parking alternatives for tenants, but this will likely get more challenging as more and more companies begin to return to work. Additionally, the increase in driving will almost certainly lead to an increase in traffic in and around Boston.
With companies evaluating their office real estate strategies, this has tended to increase the level of communication with their landlords. Due to the nature of these conversations, they can be stressful, uncomfortable and challenging. As real estate agents, we understand our role is as important now as ever. We are experienced in representing both landlords and tenants. If you would like assistance with addressing a challenging office situation, please don't hesitate to contact us.
With an abundance of vacant apartments in the (traditionally) most sought after neighborhoods in Boston, it is now a "renters'" market. According to some reports, there has been a 7-9% increase in empty apartments since the COVID-19 pandemic struck. In a drastic change from recent years, landlords are looking to sweeten the deal for tenants by offering free month(s) of rent, a paid broker's fee and rent reductions.
We currently have a great selection of apartments to choose from. A few are highlighted below:
200 Warren Avenue, Boston (South End)
Renovated one bedroom on Warren Ave. Cozy, sun drenched apartment with hardwood floors throughout. Kitchenette with stainless steel appliances. The apartment has an in unit washer and dryer, and central air conditioning. Amazing location steps to everything the South End has to offer and quick walk to Back Bay. This is a must see! $1,995/month. ***Offering 2 months rent free and brokers fee paid for***
34 Isabella Street, Boston (Bay Village)
Very spacious 3 bedroom on Isabella Street! Features hardwood floors, high ceilings, gorgeous detail, eat in kitchen, one large bedroom, two good size bedrooms. Heat and hot water included! $3,795/month. ***Offering 1 month rent free and brokers fee paid for***
Victorian, renovated parlor front studio with new hardwood floors, decorative fireplace and a large, brand new kitchen and bath. Heat and hot water included, and laundry in the building. Awesome deal for this space! $2,150/month. ***Offering 1 month rent free and brokers fee paid for***
For more available apartments, check our Featured Rentals page. As always, feel free to contact us - our apartment experts can help you navigate the options to hone in on those that best fit your criteria.