| Subject | Date Asked | Expert |
|
| Who's responsible? | 7/4/2009 | Phil Nicols |
Q: My husband and I have a commercial rental here in Fl. It is a standalone building. We rented it out ...
A: first my disclaimers: Im based in Toronto Canada and our laws are different from yours -- US laws ...
|
| finders and management fees | 6/29/2009 | Jim Avancena |
Q: is it standard practice for the property manager to get both management fees and a finder's fee for ...
A: Lori - In my experience, it is common to be paid a management fee based on the total amount of ...
|
| Commercial Property Managment Commissions | 6/25/2009 | Jim Avancena |
Q: I am an agent for a company in Canada that own several condominium office units in a large building ...
A: Summer- There is no such thing as a "standard" commission, but there is likely a common practice in ...
|
| Tenant Landlord Lease | 6/23/2009 | Phil Nicols |
Q: We just started a 5 year lease with no personal guaranty on May 1st and we already want out. We ...
A: Jon There are a lot of unanswered questions in your story. first, I assume you are selling cars or ...
|
| Lease/CAM Charge | 6/22/2009 | Jim Avancena |
Q: First I do apologize for the long message. Any help or advice is greatly appreciated. Thanks in ...
A: Jay- Two comments. First, if the landlord will show you his actual expenses - those that were the ...
|
| Lease/CAM Charge | 6/20/2009 | Jim Avancena |
Q: First I do apologize for the long message. Any help or advice is greatly appreciated. Thanks in ...
A: Jay- According to this provision you are obligated to pay for 20% (1/5th) of whatever the total ...
|
| Commercial Real Estate Lease Commissions | 6/10/2009 | Jim Avancena |
Q: What is the prevailing commission schedule for a commercial building being leased out on a 5-year ...
A: Maria- There is no "prevailing commission" schedule for a commercial building being leased on a NNN ...
|
| Tenant vacated space before lease expiration | 6/5/2009 | Jim Avancena |
Q: I had a tenant that occupied whole floor (11000sqf) in my Chicago office building. That tenant ...
A: Chris- Allow me to answer your questions in order. Note that I am not an attorney and cannot ...
|
| Office building | 6/1/2009 | Mike Fortunato |
Q: I own a medical office building valued at $3,500,000. I have a note of around $2,700,000. If the ...
A: A lot more goes into a decision to sell or keep an asset, than the likelihood of inflation. You ...
|
| rent reduction | 5/29/2009 | Jim Avancena |
Q: would appreciate any help on how to approach landlord (whom I don't know) on reducing my commercial ...
A: Joanne- I am sure you know that this happens to be one of the worst times ever to be needing a ...
|
| lease termination on sale of property | 5/23/2009 | Phil Nicols |
Q: I am in the process of selling a commercial property.The buyer is one of the two tenants.The other ...
A: Jay few caveats first; Laws very from province to province -- I see you are in Canada and I'm only ...
|
| buying property to be converted into a bar | 5/20/2009 | Terrence Cullen |
Q: i want to buy property in which i can live atop of a store front or an former bar that i can convert ...
A: In order to accomplish your goals you will need to research where you want to open your place. The ...
|
| Landlord using my space for other things | 5/15/2009 | Jim Avancena |
Q: I vacated my retail space 18 months before the lease expired and continue to pay on a payment plan. ...
A: J Rod- Why did you vacate the premises if you are going to have to pay the rent anyway? You must ...
|
| buss VS comm'l lending | 5/15/2009 | Brian Bocchieri |
Q: brian, can you please answer a few questions....??? what is the difference between buss loans & ...
A: Business loans are usually from your local bank. The loan is based on your experience, credit, and ...
|
| buss VS comm'l lending | 5/15/2009 | Mike Fortunato |
Q: mike, can you help answer a few questions......? what's the difference between a buss loan and a ...
A: Both loans have their own qualifiers, and are very similar with respect to getting approved. The ...
|
| buss VS comm'l loans | 5/15/2009 | Terrence Cullen |
Q: terrence, can you answer these questions for me......? what's the difference between business loans ...
A: Neither do 100. Business loans are based on the business and personal balance sheet with the ...
|
| A CAM Math Question | 5/15/2009 | Jim Avancena |
Q: Lets say that a center has 20 spaces, and for sake of argument all are the exact same size. So each ...
A: J Rod- Your math logic is OK but it excludes other potential explanations for the variations in the ...
|
| Landlord using my space for other things | 5/15/2009 | Jim Avancena |
Q: I vacated my retail space 18 months before the lease expired and continue to pay on a payment plan. ...
A: J Rod- The specifics of the wording of the "payment plan" you signed with the landlord could have a ...
|
| Commercial Real Estate Investing | 5/15/2009 | Mike Fortunato |
Q: My intention is to invest in apartments, but to be totally honest I don't know where to start, and ...
A: You're correct in that there is a great deal of information out there on real estate investing. Some ...
|
| changing name on lease | 5/14/2009 | Jim Avancena |
Q: Is there a way to change the responsible party on a commercial lease? I am poised to sign a ...
A: Sharon- The lease will need to explicitly address and detail this change in responsibility for the ...
|
| Commercial lockout--still collect rent? | 5/13/2009 | Jim Avancena |
Q: I hope you can help out. Tenant rented a commercial property from Landlord. Tenant sublet property ...
A: Andrew: I will tell you what I can to help you with this situation. I am not an attorney and ...
|
| 100% seller financing | 5/13/2009 | Terrence Cullen |
Q: terrence, please help us find a miracle. we need to find 100% seller financing income producing prty ...
A: Darlene, I respect your intentions, but I don't see this happening. There are only two ways that ...
|
| 100% seller financing | 5/13/2009 | Brian Bocchieri |
Q: brian, we need a miracle. we are looking for 100% seller financing in ny. for an income producing ...
A: You are truly looking for a miracle. That market has dried up a while ago. There are still ...
|
| Commerical Real Estate: Change in Lease Amt Paid | 5/9/2009 | Mike Fortunato |
Q: With the tough economic times, our tenant asked to pay a lower monthly amount than what is ...
A: Without being able to review the exact wording in your emails, I won't be able to determine how the ...
|
| CAM expenses | 5/5/2009 | Jim Avancena |
Q: Our building was recently sold; we have just completed the 6th year of a 10 year lease. Our new ...
A: Darius- If you are certain that your lease does not require that you pay CAM expenses, there is ...
|
| New Home | 4/27/2009 | Brian Bocchieri |
Q: I have a question regarding the purchase of a house 5years ago. My father, who was unaware of the ...
A: 5 years is a long time. I am not sure what can be done at this point. I would assume your father ...
|
| Including stairwell and elevator in square footage calculations for lease. | 4/23/2009 | John Smiley |
Q: I recently joined a medical practice and am responsible for the buildout of an office within a new ...
A: So sorry that it took so long to get to your question. No, it is not fair or usual to include ...
|
| Syndicating Real Estate Property | 4/19/2009 | Mike Fortunato |
Q: I had a question on syndicating real estate projects/properties. I would like to buy small ...
A: There's no single correct way to form a syndicate. I suppose you can make use of the packets you ...
|
| Real estate management | 4/16/2009 | Jim Avancena |
Q: Discuss issues that surround the commercial tenant’s fixtures & any other improvements that are made ...
A: Ratanang- Generally,the accepted practice in leasing is that the landlord retains all of the ...
|
| Appropriate Equity Investor Finder's fee | 4/15/2009 | Mike Fortunato |
Q: Mr. Fortunato, I have a professional contact that is trying to put together the purchase of an ...
A: before i read your last paragraph, i was going to say the same thing -- there's no one correct ...
|
| personal guarranty /lease | 4/15/2009 | Jim Avancena |
Q: Jim, I am partners with two other individuals in a restaurant venture that opened 5 months ago. We ...
A: Lou- Your idea may be the best that you can do at this stage in the process. I would discuss the ...
|
| Tax and Surety Bonds | 4/15/2009 | Mike Fortunato |
Q: I had a question on Tax and Surety Bonds. The company I work for was doing a condo conversion and I ...
A: Surety bonds are required to ensure completion of the parcel map process (including final ...
|
| personal guarranty /lease | 4/14/2009 | Jim Avancena |
Q: Jim, I am partners with two other individuals in a restaurant venture that opened 5 months ago. We ...
A: Lou- I think another guaranty from the same two individuals already responsible for for debts of ...
|
| personal guarranty /lease | 4/13/2009 | Jim Avancena |
Q: Jim, I am partners with two other individuals in a restaurant venture that opened 5 months ago. We ...
A: Lou- Never give a written personal guaranty unless you are certain you will continue in the ...
|
| Commercial Leasing: Silicon Valley | 4/8/2009 | Jim Avancena |
Q: Jim, My husband is a mental health professional currently leasing space under a master lease held by ...
A: Mary- Please allow me to comment on the thoughts as they appear in your correspondence. If the two ...
|
| Commercial Leasing: Silicon Valley | 4/7/2009 | Jim Avancena |
Q: Jim, My husband is a mental health professional currently leasing space under a master lease held by ...
A: Mary- Medical space seems far less likely to be impacted by the economic mess than all the other ...
|
| Purchase of apartment rezoned as Low Density Residential | 4/5/2009 | Mike Fortunato |
Q: I am looking at purchasing a 1975 built 12 unit apartment that sits in an area that has been ...
A: That property is probably grandfathered in to the previous zoning, so it probably won't become a ...
|
| retail store rent reduction | 3/26/2009 | Jim Avancena |
Q: I am looking for a sample letter to present to our property manager and owner requesting a rent ...
A: Ann- I have never tried writing such a "sample letter". I would be sure to include reference to ...
|
| overtime utility fees | 3/25/2009 | Jim Avancena |
Q: i am trying to find out what is the standard fee to charge a tenant when they use utility beyond the ...
A: Moshe: Sorry, I am not at all familiar with the Schenectady, N. Y. area. I do not know how many ...
|
| overtime utility fees | 3/25/2009 | Jim Avancena |
Q: i am trying to find out what is the standard fee to charge a tenant when they use utility beyond the ...
A: Moshe- There is no standard. The amount is usually whatever the actual expense is that is incurred ...
|
