“When people find out I’m a commercial real estate agent they often sidle up close and whisper in my ear, “Let me tell you, I got such a deal,” and expect me to nod approvingly. Dare I frown? A deal isn’t always a deal. A gentleman who coordinated real estate for ...
What could happen if you negotiate your commercial lease yourself? You could spend weeks or months trying to research your options, taking your focus away from your primary business You could risk over paying your rent You could potentially make harmful commitments because you don’t understand the meaning behind the lease language You could ...
September 12, 2016Lynn Drake
What is the difference between a Leasing Agent and Tenant Representative? * You will usually find the leasing agents name on the for lease sign out in front of a building. The tenant representative agent will be a bit harder to find because they won't have for lease signs as they ...
June 27, 2016Lynn Drake
Many prospective tenants approach me with wish lists a mile long, itemizing everything they want in their business suite. When I get down to their budget with them, I often learn they only want a one-year lease. You can’t expect the moon and the stars if you want a short-term ...
April 18, 2016Lynn Drake
Not too long ago, a business coach called me about one of his clients who had a slightly unusual need for office space. His client had already hired an agent and was running into all kinds of challenges. Her coach told her to get rid of the agent and hire ...
April 4, 2016Lynn Drake
Just before and during the 2007-2009 recession, month-to-month leases were very common. During that period, so many businesses experienced financial hardships that the tenants didn't want to sign long term leases. At the same time, tenants whose leases were expiring often asked the landlord to let them rent on a ...
March 21, 2016Lynn Drake
Having managed a fortune 500’s real estate department for many years, I was never a big believer in long term leases. I found that business space needs fluctuate and it's often not good to be locked in. However, there are times when you may want to consider a long-term lease. For ...
March 7, 2016Lynn Drake
Recently, I got a call from a prospective tenant asking me for something I had never heard of before. After 30 years in the business, I thought I had heard it all! Together, we reviewed our process so she could identify what it was she needed. Turns out this client ...
February 15, 2016Lynn Drake
Did you know that office buildings have a rating system? We often will say a building is a Class A building—but what does that really mean? Class A Buildings A Class A office building means the building is either less than 7 years old, or the lobby has been upgraded in the ...
February 1, 2016Lynn Drake
Are you a new business looking to lease space? Most landlords require you to provide financial statements from your accountant before making decisions on whether or not they’ll lease to you, or how much of a security deposit will be required. If your business is brand new, try and find ...
January 25, 2016Lynn Drake