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If you haven't negotiated a garage lease recently, you may find that there are numerous matters that you must pay particular attention to during negotiations. Unlike most commercial leases, garage leases contain an array of unique issues that are not commonly encountered in a typical leasing transaction, says New Jersey real estate attorney Mark Morfopoulos. “It would be a big mistake to assume a garage lease is ‘just a lease,’” he warns.
If you are like most owners, you've experienced an increase in vacancies and have probably resorted to taking on smaller, non-traditional tenants to fill your buildings and centers. While this strategy works in the short term, it carries a substantial amount of risk, as many of the smaller tenants often have a limited—or sometimes nonexistent—financial track record.
All signs point to the economy getting worse before it gets better. So, more than likely, you are going to have your fair share of tenant bankruptcies. Be prepared by negotiating certain bankruptcy protections with all your tenants.
U.S. retail sales dropped 2.8 percent in October, and analysts don't expect the situation to improve anytime soon. The bad news has owners all over the country wondering how they're going to maintain a steady stream of revenue during this dismal holiday shopping season. Some are banking on kiosks—small, independent stands that sell merchandise—to supplement their income. But this approach, if not handled properly, can be more trouble than it's wo...
Because tenants often seek financing to help them run their businesses, you probably get several requests from tenants each month for a landlord's lien waiver. Without the lien waiver, a tenant's lender may refuse to go through with the loan, or an equipment lessor may refuse to lease expensive equipment to the tenant. A lien waiver typically states that you agree to waive a valuable right—that is, the right to take possession of the tenant's personal ...
Hurricane Ike's push into Texas, home of nearly one quarter of the nation's refining capacity, had a significant impact on gas prices across the nation. Several states, many of which were not in the tropical storm's path, saw gas prices that surpassed the $4 a gallon mark, with some consumers paying as much as $5.09 per gallon.
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