One of the common issues with negotiating a commercial real estate lease is balancing the perspectives of both the tenant and the landlord. Understanding net effective rent and how it relates to each party in the transaction can help build a foundation for coming to a reasonable compromise on lease terms. What Does “Net Effective… Continue reading Understanding Net Effective Rent
As your business grows, one of the most exciting (and nerve-wracking) situations is when you start to think about buying commercial real estate for your business. So how do you know whether it’s best to buy or lease? In addition to considering where your business is in terms of age, growth stage, and cash needs,… Continue reading To Buy or Not to Buy?
If your business has a triple net (NNN) lease, you will receive a reconciliation letter from your landlord usually by the end of the first quarter after the calendar year ends. The purpose of this letter is to reconcile the estimated monthly payments made during the prior year with the actual expenses incurred for common… Continue reading Are you ready for your NNN reconciliation?
Time management is as much an issue in commercial real estate transactions as it is for any other part of business. If you don’t move fast enough, you may miss the boat. Conversely, if you don’t leave enough time, you may not be able to get the right fit. Here are a few tips to… Continue reading Is Time Your Friend or Foe?
The adage “time flies when you’re having fun” is certainly true – this week we celebrate one year of being in business, and the time has sure flown by! Cheers to our incredible clients, colleagues, family, and friends who made it possible for Guiderock Commercial Realty LLC to achieve this milestone. In honor of the… Continue reading It’s Been a Year Already?
It’s Small Business Week! Over the past several days, we have seen and heard quite a bit of commentary highlighting how small businesses are integral to a sense of community. Sometimes this can be taken for granted, so we are taking a few moments here to (somewhat anecdotally) talk about why small businesses are so… Continue reading Celebrating Small Businesses
Administering a lease can be very stressful to a new tenant. Fortunately, we can share some key items that should be standard practice and that will keep your new commercial lease running smoothly. Renewal Reminders Renewal reminders are great for both the tenant and landlord because they remind both parties they’ll need to make a… Continue reading The Lease Is Signed… Now What?
Leasing a commercial property isn’t as easy as finding a property that fits your square footage needs. Even though that may be step one, you still have to negotiate your lease. Leasing due diligence is when the prospective tenant evaluates and analyzes the commercial property to ensure the value is worth the cost. This also… Continue reading Before Signing Your Lease, Do Your Due Diligence
Aside from the base rent, common area maintenance (CAM) charges are some of the largest additional leasing costs that tenants may see. Here, we give an overview of what CAM charges are and ways to manage them. What are Common Area Maintenance (CAM) Charges? In a triple net (NNN) lease, tenants are billed CAM charges… Continue reading Common Area Maintenance (CAM) Charges
You’ve found your dream space for your business, and you’re ready to sign on the dotted line. But before you do that, take a second to make sure you know what you’re getting into. There’s several types of leases, all with varying degrees of risk for the tenant. Here’s the basics of each option to… Continue reading Commercial Property Lease Types