The rules are the rules,
whether we like them or not.
Nowhere is this truer
than as it applies to municipal zoning.
I find clients can
easily get discouraged in property searches when they discover where their business
is, and is not welcome, as determined by the local zoning bylaw.
You’ve just received a letter with the renewal options your financial institution is offering on your commercial mortgage.
How can you assess the competitiveness of the offer before you? The letter arrives at a time when you’re extremely busy.
Is it worth your time to research and explore other options?
All commercial real estate deals have a factor of uniqueness that sets them apart from other investments.
That said, there can be times when commercial real estate is not only a real estate investment but also a business sale.
For the purpose of this conversation, let’s assume you are sitting on cash or liquid asset(s) and have decided to invest a portion of your available capital into commercial real estate.
What factors need to be considered to make a prudent investment decision?
I wrote about the
advantages of partnerships, but let’s say the idea of a partnership does not interest you.
Receiving that first response from a Tenant we’ve not encountered before, after waiting for their review of a lease, it is always interesting.
We represent both Tenants and Landlords; this article has been written from the perspective that I am representing the Landlord.
At times the Tenant is prepared to execute the document “as is” and at times they will request hundreds or more of changes. We have seen request that number exceed 1,000 changes.
We know all commercial real estate leases are written with a bias towards the Landlord, but what are the main reasons that Tenants object to the document?
Today’s communication tools include email, voicemail, social media, text and electronic messaging services, video and audio conference calls and more recently, telepresence robots.
All of these can be useful, however there are times when they just cannot replace a “belly to belly” meeting.
In commercial real estate there can often be a variety of uses for a building depending on the zoning it sits on.
When a tenant vacates a space it can be difficult to anticipate who might backfill them based on the uses the property is best suited for.
So how do landlords decide if they should and shouldn’t spend money on a vacancy in order to get it leased up?
As a commercial real estate agent my job is to line up tenants with landlords, and sellers with buyers.
Unlike a sale, where both sides part ways at the end of transaction, I think leasing is a lot about building a relationship.
However, much like in our personal lives, we all know some relationships are just not meant to be.
There is nothing worse than putting a transaction together that gets mired in a lengthy conditional period with no end in sight.
Whether it’s a court ordered sale or a deal that continually seems to get extended, time kills deals that take too long.
From time to time we will receive a floor call from an individual asking one question: how do we charge brokerage fees to lease space.
I explain that our typical fee would be calculated based on five percent of the total net rental amount over first five years of the lease term and, if applicable, three percent on the balance (plus taxes).
In many cases the conversation ends there.