If you have a tenant that fails to pay its rent, you may decide to send it an eviction notice so that you can kick it out of its space—and even start the eviction proceeding. But if the tenant pays you some—but not all—of its overdue rent after getting your eviction notice (and...
Q: My shopping center tenants are looking forward to the upcoming holiday season, when their businesses typically have more customers—and higher profits, which also benefit me by boosting the percentage rent I can collect. But foot...
The commercial real estate industry is up in arms over a New York City Council bill that aims to change the city’s commercial lease renewal process. One effect of the proposed Small Business Jobs Survival Act would be the creation of a new city-supervised mediation program for lease...
A 2014 Commercial Real Estate Outlook Survey conducted by tax advisory firm KPMG shows that secondary markets are proving to be a first choice for many commercial real estate executives as the economy continues to pick up. CRE investors are looking to develop assets and deploy capital in...
Operating costs are one of the main cost concerns for both retail and office building tenants. So they’re one of the first things on a tenant’s radar when it’s looking to cut costs. A tenant trying to trim operating costs can spell trouble for you, however, if believing that it...
Some tenants that turn out not to be able to afford the rent for their space are upfront with their owners and try to deal with the situation the best way they can. Unfortunately, you may someday be faced with a tenant that must move out of its space before the end of its lease, but tries to get...
Q: A shopping center near mine has experienced vandalism and at least one burglary recently. The crimes took place after hours. I’m afraid that my center will be affected next. I’ve installed more lighting in the parking lot. What...
Retailers are increasingly weaving their way through Manhattan’s Garment District, setting up shop in the neighborhood that was once very specialized and catered to the fashion industry. Now, retailers, cafes, and upscale restaurants are taking over storefronts—and landlords are...
No matter how financially sound your tenants seem at the start of a lease, there’s no guarantee they will stay that way. So it’s important to take all possible steps to protect yourself. Once a tenant files for bankruptcy, bankruptcy laws control what you can collect from the...
It’s typical for commercial leases to allow tenants to prorate rent if certain events, such as destruction of the tenant’s space, occur. But when you agreed to rent proration, you probably didn’t intend to let a bankrupt tenant that decides to reject its lease prorate its last...
Q: There are several retail tenants in my building, which I plan to convert to a condominium building with both commercial and residential units. I sent notices to the tenants announcing the plan and letting them know that they’ll be...
A Bradenton, Fla., 41-year-old shopping mall was on the online auction block recently, with the winning bid ultimately reaching $33.75 million. Empty storefronts have plagued DeSoto Square Mall for years, but a new owner isn’t necessarily the answer—and there will still be...
