While several notable apartment transactions in major cities point to strong activity in the multifamily sector at the end of this year, property investors surveyed by PricewaterhouseCoopers said they're looking back to the office real estate market for solid returns. Real estate experts...
Whether you're negotiating your snow removal contract or approving your tenant's, the contract should:
Identify term of agreement and exact services to be performed. This includes which areas will be plowed; the minimum snow accumulation amount before plowing, sanding/...
Effectively managing snow and ice accumulations is a critical component of maintaining commercial properties in a safe condition. Whether you're the owner of a large commercial property with sufficient in-house personnel and the appropriate equipment necessary to do your own snow removal, or...
Almost nine out of 10 commercial property owners in Union City, N.J., are operating without valid business licenses, a recent audit of Hudson County tax records revealed. According to city staff, the audit found that 348 of 400 commercial property owners didn't have valid business licenses...
When you're negotiating a lease with a strong tenant that wants an exclusive to sell certain merchandise at your center, it may demand that you agree not to rent space to any other store that has a “department” selling the prohibited merchandise. If you agree to this restriction...
Make sure that your property manager is vigilant about keeping maintenance and inspection records. They can help you refute claims made by your tenants or their employees that you or your management staff knew about a dangerous condition at your property and failed to fix it.
When describing management fees that you'll pass through as a CAM cost or an operating expense, don't depend on synonyms for “manage” or “management” to convey your meaning. If you use only the words “supervise and administer” or “supervision and...
Q I signed a lease with a tenant for office building space more than 20 years ago. The lease was to expire in 2011, but included an option for the tenant to renew for a five-year period. During the original term, the lease was assigned to a string...
Tenants sometimes complain that they don't receive notices sent by owners, which can lead to arguments if they lose valuable lease rights or options, or wind up defaulting on their leases because they didn't know that their owners were trying to contact them. This doesn't affect only...
As a retail property owner, you know that the success of your strip mall or shopping center largely depends on the mix of tenants you rent space to. Tenant synergy—that is, stores functioning together to draw shoppers that a center normally wouldn't capture without them as a group...
Vacancies at U.S. shopping malls climbed to the highest in at least a decade, according to Reis Inc.'s annual report. The New York-based property-research company reported that regional and super-regional mall vacancies have risen to 9.4 percent—a nearly 1 percent increase from a year...
Two types of repair covenants are standard provisions in almost all commercial leases. One type of repair covenant specifies what a tenant is required to do to maintain and repair its space while the lease is ongoing. The second type of repair covenant specifies what condition the space...
