Archive: February, 2018

28

Feb2018

CRE Definitions: Lease Term

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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 ... Read More
February 28, 2018Lynn Drake

22

Feb2018
If you have a business in Michigan like I do, your heating bills are much more money in the winter than a business that operates in Arizona. To calculate your heating and cooling costs, you first need to know how much per square foot the landlord is charging. In Michigan, many ... Read More
February 22, 2018Lynn Drake

20

Feb2018
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 ... Read More
February 20, 2018Lynn Drake

15

Feb2018
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, ... Read More
February 15, 2018Lynn Drake

09

Feb2018
“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 ... Read More
February 9, 2018Lynn Drake

07

Feb2018
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 ... Read More
February 7, 2018Lynn Drake

05

Feb2018
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

01

Feb2018

CRE Definition: Tenant Rep

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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 ... Read More
February 1, 2018Lynn Drake