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, ... Read More
11
Mar2013
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 ... Read More
March 11, 2013Lynn Drake
27
Feb2013
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 ... Read More
February 27, 2013Lynn Drake
19
Feb2013
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 ... Read More
February 19, 2013Lynn Drake
27
Sep2012
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 ... Read More
September 27, 2012Lynn Drake
20
Jun2012
Do you remember the childhood nursing rhyme, “The Old Woman in the Shoe?” She had so many children, so little space she didn’t know what to do. Even as the economy is smoothing out and rumbling forward, many tenants find themselves with more space than they can accommodate. They have ... Read More
June 20, 2012Lynn Drake
02
Apr2012
When I made the decision to leave Equis back in December 2009, it took me almost a year to do the due diligence that came along with deciding how my new entity would look. I spent most of the year talking with franchisors about the cost of ... Read More
April 2, 2012Lynn Drake
08
Mar2012
Some of us speak Greek, Spanish, French or Mandarin in addition to English. We think we can speak real estate, but you had better know someone who can speak fine print or your lease terms could get lost in translation.Pay careful attention to how a commercial or ... Read More
March 8, 2012Lynn Drake
26
Oct2011
Just remember the standard rule of real estate: If the deal looks too good to be true, it might very well be too good to be true.Grandma owns a building. It is a little run down. It is an hour away from our best customer. But we can save $5 ... Read More
October 26, 2011Lynn Drake
13
Oct2011
Legitimate reasons for moving abound, people need more space, less space, want a more attractive space or a more economical space. But then, as a leasing agent, we deal with the crazy and weird situations, some with bright solutions. Here are a few from the Compass Commercial book of woes: If ... Read More
October 13, 2011Lynn Drake