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New York, NY—Increasingly startup proptech companies are implementing revenue-sharing agreements with a landlord in lieu of rent by building out amenities that tenants want in the building. The end result is a revamped building designed to meet the current demand for such services that cost the landlord relatively little.
Indeed, landlords benefit doubly for these deals, says Jahn Brodwin, senior managing director of FTI Consulting. They are able to offer new amenities that they didn't pay to create that appeals to their existing tenant base and they share in the revenue that these new amenities attract, as well as drive rent and occupancy, he says.
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