The Town of Boston Massachusetts

 

Boston is the capital of the Commonwealth of Massachusetts, the state’s largest city and the county seat of Suffolk County. The largest city in New England, the city proper, covering 48 square miles, is the 21st largest city in the United States and the tenth-largest metropolitan area in the country.

One of the oldest cities in the United States, Boston was founded on the Shawmut Peninsula in 1630 by Puritan colonists from England. It was the scene of several key events of the American Revolution, including the Boston Massacre, the Boston Tea Party, the Battle of Bunker Hill and the Siege of Boston. Through land reclamation and municipal annexation, Boston has expanded beyond the original peninsula. Following American independence, the city became an important port and manufacturing center, as well as a center of education and culture. Its rich history attracts many tourists, with Faneuil Hall alone attracting more than 20 million visitors annually. Boston’s many firsts include the country’s first public school (1635) and the first subway system (1897).

The area’s many colleges and universities make Boston an international center of higher education and medicine. Boston’s economic base also includes finance, professional and business services and government activities. Though the cost of living is relatively high in the context of the U.S., it remains high on world livability rankings.

 

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J. Butler Property Management, LLC. : Boston, Massachusetts

Elsewhere on this website, it was mentioned that an experienced commercial property manager (who also functions as the leasing agent) realizes the importance of the strategy behind how to negotiate the best possible deal for the client, the landlord, in lease negotiations. Free rent for a month or several months of a lease term is the first concession a tenant is likely to ask for. In a typical market, free rent is not usually offered. When it is, it is for a limited period of time only. In consultation with the leasing agent or manager, the owner is the only who ultimately determines how much free rent will be granted and whether it will be provided at the beginning of the lease term or spread out over the entire term of the lease. In most cases, free rent is provided at the beginning of the lease, in order that it be “burned off” as soon as possible. In a weak economy, many buildings may have cash flow challenges that prevent the landlord from giving several months of free rent in the first year. In challenging times, a common concession is to spread the free rent over the lease term by offering one month of free rent at the beginning of each lease year, or spreading the free rent equally over each lease year. The tenant’s next request for a concession is likely to be for a cap on the annual percentage increase of the pass-through expenses. If this concession must be offered, it is necessary to negotiate the maximum percentage rate increase and determine whether the non-controllable expenses, such as real estate taxes and snow removal, are capped.