Is your rent above market?
Is the space too large or too small?
Do you know when the lease expires?
Does your real estate agent represent your firm or the Landlord?
If you don’t know the answers to these questions,
Call Compass Commercial 248 817-5400 so we can watch out for your firm!
At Compass Commercial, LLC - ... Read More
Category: Office Leasing
01
Aug2016
This is what that scenario of to small of office space typically looks like: You may stay and pay the “holdover “charge, which is typically between 125% to 200% of your current rent. Or you go to a month-to-month lease offering you no protection if your landlord asks you to leave, and even allow ... Read More
August 1, 2016Lynn Drake
27
Jun2016
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 ... Read More
June 27, 2016Lynn Drake
04
Apr2016
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 ... Read More
April 4, 2016Lynn Drake
21
Mar2016
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 ... Read More
March 21, 2016Lynn Drake
07
Mar2016
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 ... Read More
March 7, 2016Lynn Drake
29
Feb2016
In the spring of 2015, I got a 22% increase in my common area maintenance (CAM) pass-through expense. CAM charges are billed pro rata to me and other tenants, based on our percentage of total property square footage and to cover the cost of common area upkeep.When I sent an ... Read More
February 29, 2016Lynn Drake
25
Jan2016
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 ... Read More
January 25, 2016Lynn Drake
18
Jan2016
In many buildings, there are extras you might consider adding to your wish list, such as:Extra storage for free during a certain time of year
Instead of free rent in your first year, you could take the free rent over the course of the lease during the months with the lowest ... Read More
January 18, 2016Lynn Drake
22
Nov2015
The hours you spend pacing the floor, waiting for a family member’s first child to be born; the minutes you spend waiting for your computer to boot up; the seconds you wait for a text message…each of these intervals remind you of that inescapable truth: timing is everything.Did you know ... Read More
November 22, 2015Lynn Drake