you can negotiate the other terms of the lease. Just like purchasing a home, landlords and listing agents in commercial real estate almost always expect potential renters or lessees to submit a counteroffer. Because they’re expecting a counteroffer, landlords often inflate the lease price ...
Parking for commercial office space is based on a ratio of the number of spots per 1,000 square feet. For example, A tenant may lease a 10,000-square-foot space and receive a parking allowance of 4:1000. In this case, the tenant would be allowed to lease 40 parking spots for employe...
Working with a commercial real estate broker Tenants may choose to work with a broker to navigate the leasing process. There are advantages to working with a broker. “Not only will [brokers] be able to identify available spaces based on your search criteria, but commercial lease structures ...
In June 2005, Palisades Hudson signed a five-year lease to occupy 1,494 square feet of commercial office space in downtown Fort Lauderdale, Fla. The space acquisition process took 10 months. However, we were able to obtain the right location and amount of space to meet our needs in South...
The COVID-19 epidemic has brought with it dramatic changes in the commercial real estate industry. Many corporates decided to transit into hybrid working, allowing their staff to work remotely at least part of the week, which is likely to lead to lower demand for office space even in the ...
During the COVID-19 pandemic, many small businesses have fallen on hard times and arelooking for ways to alleviate financial stress. One such way to help ends meet is approaching your landlord to renegotiate your commercial lease, a strategy that was useful even in pre-pandemic times. ...
Residential vs Commercial Lease: Residential leases are for renting out a home, condo or apartment whereas a commercial lease is for renting out a property for commercial use such as office space, retail space or warehouse. Fixed-Term vs Month-to-Month Lease: A lease can either be for a fi...
But it's not just the real estate industry that is impacted. The effects of vacant office space could ripple through the economy because many buildings are financed through short-term loans from banks. If real estate firms are unable to make rent money from commercial tenants, they may defau...
“Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets division of Bank of America Corporation. Lending, derivatives, other commercial banking activities, and trading in certain financial instruments are performed globally by banking ...
You find a qualified tenant willing to take over the remainder of the lease. Poor conditions make the space uninhabitable and you’re claiming constructive eviction. You’re willing to pay rent until the landlord finds a new tenant. Before you decide how to break your lease, here's some exp...