ABC’s of Leasing: Pitfalls for first-timers

Leases are created by landlords to protect their investments. They identify the rights and responsibilities for both parties during the term of the relationship.

Because in most cases the lease comes from the Landlord, he or she is going to be more aware of the clauses and ultimate implications. No one is trying to pull the wool over a tenant’s eyes, but there are items that are important to understand prior to entering into an agreement.

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Three points to consider before choosing your next office

Research this topic and you’ll find many opinions and trending theories and on the most efficient and pleasing office environments. Contrary to what some of these theories may try and tell us, I don’t subscribe to the belief that one solution fits all.

There are some useful tips available that is worthwhile considering to help make informed business decisions.

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The challenges of a sublease

Sublease agreement with golden keyWe as agents often take for granted that Tenants and Landlords understand the terms that relate to leasing and selling commercial real estate. One such common clause is that of subleasing.

It’s important that both parties in the lease agreement understand the obligations and implications of executing a sublease.

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Exercising your option

TIMEMany commercial real estate leases will include an option to renew clause. Like all clauses in a lease, this one is bound by some pretty specific rules that have important consequences to both the landlord and tenant.

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5 ways to best optimize office space

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Starting the search for commercial real estate can be overwhelming given the amount of information there is to digest. Here are a few tips to get started in the right direction if you’re leasing office space specifically.

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What happens when a tenant goes into default?

8923306_origLaws governing commercial real estate tenancies vary from province to province. In Saskatchewan, once a tenant has been determined to be in default (by definition of their lease agreement) there are several remedies available to the landlord.

Some of the information presented here is from an article prepared by the local firm of Robertson Stromberg. This should not be taken as legal advice, rather a discussion on some of the consequences that can be imposed on delinquent tenancies. Each tenancy must be dealt with on a case by case basis.

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Deposits make or break deals

Deposit imageYour deposit forms an integral part to the successful completion of a commercial real estate transaction. I’ve compiled a list of common questions that I’ve come across from both buyers and tenants.

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ABC’s of Leasing: Do I have to read all 40 pages of this lease?

Drowning In PaperworkYou’ve found the space and have come to terms with the Landlord. You’re nearly at the finishing gate to getting your business venture off the ground, and BAM! The landlord has presented you with a 30-40 page lease that you must review to finalize the deal. Should you read it or just sign off and get the moving party started?

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ABC’s of Leasing – How does a Net Lease work?

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As much as new tenants can use an education on the world of leasing, so too can existing tenants. For newbies, certainly there is a learning curve with the terminology and nuances of negotiation. But even for tenants in the Saskatoon real estate market that may have been leasing for years, there is some benefit in going back to Leasing 101 class.

In order for us to treat your interest as serious, you will need to know: the size (square footage) you require, the budget you have to spend and the term you’d be able to enter into. We can give you an idea very quickly if these expectations are realistic. Agents should ask questions regarding your business plan. We want to make sure that you will be a good fit for the long haul.

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