Influence of Rent Differentials on the Choice between Office Rent Contracts with and without Relocation Provisions
研究了租金差异如何影响租户选择含搬迁条款或不含搬迁条款的办公租赁合同，发现价格和租赁条款是关键决定因素，而租户规模和信用状况影响较小。
In this paper we concern ourselves empirically with the influence of rent differentials on the choice between rent contracts with and without relocation provisions investigating the effects of relocation provisions on office rents. The study departs from the extant literature by using a switching simultaneous‐equations model to estimate hedonic rent functions for alternative office lease contracts with choices of relocation provisions. The empirical results suggest that price considerations and certain lease terms are important determinants of the choice of office relocation rights. The results also suggest that certain tenant characteristics, like tenant size and creditworthiness, have only a marginal effect on the choice of relocation rights.