As a tenant to a commercial property, you might want to make various changes to your property so that it is more marketable. Structural changes almost always need to be consented to by the landlord with a submitted plan for approval. Nonstructural changes can sometimes be made if they are relatively simple, such as changing the carpet and the landlord already designated in the lease that such changes are ok.
Read MoreThe commercial lease can be a tricky and complicated matter. Entire books are written on how to negotiate them. They are so complicated that small business owners hire agents to negotiate on their end and property management companies have their own agents in house that help to negotiate the lease for the property owner. For now, we will just discuss the different options for determining how the rent payments will evolve.
Read MoreLet’s say you’re determining the price of rent for various apartments in a multifamily property. You want to base this on many factors including the location, asset class, etc. Another one of those factors might be the average income for that area. There are many ways of determining that average. Which one is going to the better choice in the context of setting the price of your lease?
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