Feature

Know the Four ‘R’s Before You Assign or Sublet

September 30, 2008    

Not one of the past six months has passed without a major retail casualty: Ann Taylor, Foot Locker, Zales, Mervyn's, Linens-n-Things, and Steve and Barry's are just some of the retailers that have reported poor sales and plans to close stores. Major retail chains such as these—also...

Ask to See Fire Evacuation Plan Before Signing Lease

August 31, 2008    

The safety of your employees and customers is vital to the success of your business—as well as to your peace of mind. You don't want to wait until you are faced with an emergency, such as a fire, to find out that your owner hasn't provided an adequate emergency response and...

Avoid Responsibility for Owner-Caused Injuries, Damage

June 30, 2008    

In most leases, the owner will include an “indemnity clause”—that is, a clause that makes the tenant financially responsible for damages that the owner might suffer as the result of any party's actions. For example, if the space you lease from the owner is damaged by a...

Make Tenant Estoppel Certificate and SNDA Work for You

May 31, 2008    

The Federal Reserve has recently been aggressively cutting interest rates in an attempt to spark today's stagnant economy. The rate cuts are giving commercial property owners an opportunity to refinance, to purchase new properties or tap existing properties' equity for operating capital...

Negotiate Rent Reduction Without Giving Away the Store

April 30, 2008    

As the economy continues to slow in 2008, more tenants will be tempted, if not forced, to ask their owners for rent concessions. Luckily, when faced with these unpopular requests, “most property owners and management companies are pretty practical,” says Sacramento, Calif., real...

Require Owner to Add Lease Safeguards Against ‘Damage and Destruction’

March 31, 2008    

The massive destruction caused by Hurricane Katrina serves as a prime example of how important it is to have a solid “damage and destruction” clause in your lease. That clause, if written effectively, can protect you if your space or common areas of the building are damaged by flood...

Nine Tips for Finding, Maintaining Affordable Commercial Space

January 1, 2008    

Scouting out an affordable space to rent can be challenging in any market, let alone one in which vacancies are low and owners need not make many concessions. You can reduce some of the burden in looking, though, by consulting the right people, using the appropriate resources, and having a clear...