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Is Your Company Throwing Away Money On Phantom Space?

Phantom space has nothing to do with a building being haunted. But it is scary to think of the money you could be throwing away if it exists in your company’s lease. To understand what this means you first need to understand how your landlord determines the square footage of your leased space. “Usable space”…

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The Modern Office

Ethonomics is the study of the delicate balance between ethics and economics. It has become somewhat of a buzz word in modern office management culture. Why is that important from a commercial real estate perspective? Because it is literally changing the way offices are designed. Numbered are the days of cubicles and long hallways of…

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Defining Reasonable Wear and Tear

What is the “reasonable wear and tear” condition of a premises? It is important to understand your landlord’s definition of this term when signing a new lease or renewal. This can prevent unexpected costs and stress when it’s time to move. A landlord wants to preserve as much cash as possible when a tenant vacates….

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Renegotiate Your Lease Terms – Create a Win-Win with Your Landlord

Many companies believe that they must live with whatever terms are stated in their existing lease until it expires. However, many property owners will consider a proposal to change the terms of an existing lease if it provides long term benefits. There are creative ways a tenant can renegotiate lease terms that will provide security…

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Rental Rate Structures

Rental Rate Structure The structure of your lease depends on a few factors. It’s important to understand how your lease is structured and what the basic terminology means when negotiating your agreement. The type of property you are leasing plays a big part in determining the type of lease offered. An industrial property lease will…

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Commencement Dates

Commencement Dates The Commencement Date language in your commercial lease agreement is a particularly important detail not to be overlooked. As a tenant, you need to protect yourself against any unplanned delays in taking possession. If a new lease commences prior to moving in, you could be setting yourself up for a lot of additional…

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Advantages of Negotiating an Assignment Clause in Your Lease

The Major Difference Between a Sublease and Assignment Provision An assignment clause in your commercial lease can protect your company from obligation to a landlord if, for example, you need to vacate prior to your lease end or your company changes hands. With an assignment of your leased space, the terms of the original lease…

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6 Reasons to Audit Your Building’s Operating Expenses

Prevent Overpayment of Your Company’s Leasehold Expenses Real estate and leasehold expenses are among the most impactful upon your company’s bottom line. It is an essential element of any company’s fiscal management to ensure that it does not overpay. Auditing your landlord issued expenses is your right. Lease auditing has become a common and expected…

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Purchasing with an SBA Loan: How to Lower Your Rent and Create an Investment

Dramatically cut your company or professional firm's "effective" lease rates. An SBA 504 loan could be the answer to saving a significant amount of money compared to the high costs of leasing. If a creditworthy tenant can find a viable building or commercial condo space to purchase, then buying with an SBA 504 loan could...