The time in which a landlord and tenant enter into an agreement to lease space. This timing should be identified in lease agreement signed by both parties. For instance, if I leased an office for one year starting February 1, 2018 the lease would expire on 1/31/19. The lease term ...
February 28, 2018Lynn Drake
The Challenge: The Girl Scouts had a long-term lease at the Fisher Building in Detroit Michigan. Their rent was significantly over market and they had more square footage then they needed. They also faced many issues as a tenant, including: Bankruptcy of the building, conti-nual maintenance issues which caused property damages to ...
February 20, 2018Lynn Drake
When looking for space keep your eyes wide open. Put your phone away while doing a walk-through. If the space is an office building and carpets are stained, don’t expect them to be different when you move in. If ceiling tiles are stained, either the landlord didn’t fix the roof, ...
February 15, 2018Lynn Drake
“Building Standards” refer to the finishes a landlord uses in the building. For example, the entry doors can be wood, 8’ or 10’ tall, glass, or wood with a side window of glass. When you walk through the building look up to the ceiling tiles and down at the type ...
February 9, 2018Lynn Drake
In the market for a new office, or have some extra space available? Many people might look in the Yellow Pages, some will ask friends. Whatever system you use to find a realtor, make sure to screen them before hiring. Commercial realtors come in every shape, color, size, and age. You ...
February 7, 2018Lynn Drake
Real estate agents who list commercial real estate for lease or sale. Often prospective tenants don’t realize that the landlord representative works exclusively for the landlord. Their job is to get the most favorable terms for the property’s owner.
February 5, 2018Lynn Drake
A Tenant Representative is a commercial real estate agent or agency that focuses solely on the needs of a tenant, rather than being tied to the landlord or building owner. Your tenant representative has only one party's interest in mind - yours. Since they work for you, they are charged to ...
February 1, 2018Lynn Drake