There’s an ongoing debate among commercial property managers: should we be invoicing our tenants monthly? After all, tenants should already know how much their rent is and when it’s due. This information is in their lease and it doesn’t change. Shouldn’t we save time and resources by skipping these recurring invoices?
Lease administration is one of the most commonly misunderstood aspects of commercial real estate.
Let’s begin with the definition of a tenant estoppel. In the commercial real estate world, these are common. It is a certificate or a letter that may be required during the due diligence phase or the underwriting process.
Recent news about the Federal Reserve dropping the Federal interest rate has lots of real estate owners evaluating whether they should refinance.
Lots of things keep owners up at night. Tracking tenant maintenance requests or work orders is one of the most commonly heard concerns. Why? Simply the fear of something being lost or forgotten. The goal is to keep good tenants for a long time. Missing a maintenance issue or delayed response, creates tenant frustration. If […]
We all know why security deposits exist. They function as insurance for the landlord that their property will be taken care of while the tenants live there.
In Part 1, we went over the basics of NNN lease escalations: what they are, the different types of lease escalations, and how they work.
The desire is often strong to fill a vacant office space.