CRE Definitions Series: ZoningEvery city in the USA has zoning codes. These codes outline how a space can be used. One simple example is when doctors often think they can lease space in any office building. However most medical buildings have additional parking requirements to accommodate their staff and clients. ...
Tag: tenant beware
November 8, 2018Lynn Drake
Sometimes tenants ask the landlord to build in the furniture. I was working with a client who wanted a built-in reception desk, walls, and then desks behind the walls. I suspected he thought this was going to be free, as it was part of the build out. The client was ...
June 26, 2018Lynn Drake
Lease Expiration Date:Most leases have a start and an end date spelled out in a lease document. The last day of the lease should be clearly defined in the signed lease agreement. The tenant must be out of the space on the last day of the lease, or they may ...
June 4, 2018Lynn Drake
Ever greening Clause Definition: Most leases have an end date with an option to extend the lease expiration date by sending a written notice to the landlord. However, some leases automatically renew if the tenant doesn’t notify the landlord.We often see these types of clauses when a landlord is leasing ...
May 21, 2018Lynn Drake
Every city in the US has zoning codes. These codes outline how a space can be used. For example, doctors often think they can lease space in any office building; however most medical buildings have additional parking requirements to accommodate their staff and clients and traditional office buildings may not ...
May 11, 2018Lynn Drake
Ever feel like you're boxing in the dark when you're trying to figure out the real costs of the office space you rent?Because different types of real estate charge differently for space, it can be a challenge!Generally, retail or industrial buildings charge a base rent plus taxes, maintenance, and utilities. ...
November 30, 2017Lynn Drake
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
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