With the exception of a few lucky cities whose markets are raging back to life, we don’t expect vacancy rates for most US cities to ever go below 10%. Why? For starters, many older buildings need to be torn down. Vacant buildings quickly become homes to homeless people unless someone ...
May 30, 2013Lynn Drake
Last year, I sat on a panel led by Knoll with many designers and architects, and we discussed the ratio of people to a desk. Currently in most major companies, the ratio is 2-3 to a desk. In a sales organization the ratio can be as high as 20 employees ...
April 11, 2013Lynn Drake
What I’m about to share with you might come as a surprise. Are you aware that the large insurance companies got together a few years ago and decided as a group not to offer notice of cancellation policies to landlords? Well, that’s not 100% true – you can get it, ...
March 25, 2013Lynn Drake
Let me tell you a story. We were working with a nonprofit on a lease renewal in Ann Arbor. The original landlord of the building was excellent – the trouble only began when he passed away and his son took over. The lease had what we in the business call ...
March 11, 2013Lynn Drake
Does the song sound familiar? Well, it’s a tune every tenant should be singing – twice a year. That’s right. Every tenant should check their lease expiration date twice, and make sure to start their search at least a year in advance. Wondering why? Doesn’t a year sound a bit ...
February 27, 2013Lynn Drake
This past year, it seemed we ran into more landlords who worked against our clients than we did landlords who worked with them. In Virginia, every time we found a subtenant for a sublease, the landlord in question would lure them over to another listing in the building. Meanwhile, in ...
February 19, 2013Lynn Drake
As a tenant representative this is my advice for landlords and agents representing them:If you don’t treat your tenant’s right I’m not going to warn my tenants about you before showing them your buildings. As a tenant representative I hear from your tenants why they don’t like the building. If ...
October 11, 2012Lynn Drake
Most of my career the vacancy rate in the City of Detroit has been extremely high. Yet as 2011 turns into 2012 we see the City of Detroit making real progress with occupancy. According to Co-Star which measures all of the statistics Detroit is seeing improvement quarter over quarter. The ...
September 27, 2012Lynn Drake
Friends of mine introduced me to a great game called cash flow. It was developed by Kisosky(author of Rich Dad Poor Dad). Cash flow is a real life game that teaches you that no matter whether you are a truck driver or a Doctor you can obtain wealth. This game ...
August 21, 2012Lynn Drake
While sitting at Boston Market in Troy enjoying a chicken pot pie and a newspaper I had this uncomfortable feeling I was one of the only people in the place. How could this be? The food is good and healthy. The service is better than most family diners. Yet crowds ...
July 26, 2012Lynn Drake