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#HappyOrganizeYourHomeDay

I don’t know about you but when things are organized it makes me feel stress free and calm.  I think clearly and work more efficiently.  Don’t get me wrong I am not OCD and I am still in the process of getting organized but I have come a long way.  I have walked into offices where there are stacks of paperwork everywhere or in boxes. Honestly, I used to be one of those people so I will never…

[commercial-real-estate-florida]

Is There Another Possible Tax Decrease Coming in 2021?

Is There Another Possible Tax Decrease Coming in 2021?

Did you know that the state of Florida is the only state in the country that charges a sales tax on all commercial leases regardless of the size or amount of the lease? This is true and it has been argued by members on the Board of Realtors and even by the former Governor and now Senator of the State of Florida Rick Scott.  Fortunately, for the last couple of years we have seen minor decreases. …

[commercial-real-estate-florida]

Real Estate Law - Not for you? Think Again...

Real Estate Law – Not for you? Think Again…

Real estate is indeed one of the safest investments and a lot of people use real estate as an investment avenue. Real estate law is not the forte of real estate attorneys and real estate agents only. Every real estate investor should understand at least the basics of real estate law. In fact, a short course or a concise book on real estate law can sometimes be of great help (and is generally…

[commercial-real-estate-florida]

You Can Have Your Commercial Property Sold In No Time

You Can Have Your Commercial Property Sold In No Time

https://aimhighercre.com/wp-content/uploads/2020/08/You-Can-Have-Your-Commercial-Property-Sold-In-No-Time.mp4

  Getting involved in commercial real estate can overwhelm and stress out beginners and veterans alike. The advice of the following article will guide you through the often confusing and complicated world of commercial real estate, and hopefully see you better prepared for succeeding in…

[commercial-real-estate-florida]

Tips to Being a Successful Landlord

Tips to Being a Successful Landlord

The ultimate goal of investing in a commercial rental property is to turn a profit. To make sure that you achieve that goal it is essential that you follow several critical guidelines. 

  First, always make sure that you check references. This can be a burdensome step that many landlords overlook if they feel as though they have a good instinct about the prospective tenant when they meet with…

[commercial-real-estate-florida]

Tips to Avoid Discrimination and Ensure Fair Housing Practices

Tips to Avoid Discrimination and Ensure Fair Housing Practices

Avoiding discrimination is imperative when you own investment rental property. The Fair Housing Act regulates this and you could find yourself in legal trouble if you do not adhere to these regulations. 

  First, you must make sure that the property is available to be shown to all individuals who are interested in renting it. Generally, interested parties will call to inquire about the property…

[commercial-real-estate-florida]

Notices, Disclosures and Addendums (Part 1)

Notices, Disclosures and Addendums (Part 1)

  When you invest in rental property, it is important to understand that much of what you can do is guided by local, state and federal regulations. In many cases, these regulations provide guidance for the disclosures which must be made to all tenants. This is a matter of law and failure to make proper disclosures can result in quite a bit of legal and financial trouble, so it is always best to…

[commercial-real-estate-florida]

Finance And Understanding Leverage - Commercial Property Investing

Finance And Understanding Leverage – Commercial Property Investing

Understanding the importance of leverage in commercial property investing finance is vital to making a profit with commercial real estate.  The term leverage refers to an investor’s ability to borrow against a portion of the purchase price or value of collateral.  By borrowing cash from a lender you have used someone else’s money to increase the size of your investment.  Unless your goal is to…

[commercial-real-estate-florida]

International Cat Day (#InternationalCatDay) Happy International Cat Day!  Yes they are cute and some a little more fury than others but did you know they can also be metal?

[commercial-real-estate-florida]

Finding The Best And Busiest Spot For Your Store

Finding The Best And Busiest Spot For Your Store

Commercial real estate investing is quite a bit different than residential or other types of real estate purchases. Read the following paragraphs for a few insights that you can use to do better.

Whether you’re buying or selling commercial real estate, make sure to negotiate. Ensure that your opinion is known, and wrangle for the best price you can get on the property.

You should expect your…

[commercial-real-estate-florida]

Buying Commercial Investment Property - Your Office Building Checklist

Buying Commercial Investment Property – Your Office Building Checklist

Many investors prefer commercial investment properties such as small office buildings or small retail shopping centers.  The leases are usually 3 to 5 years, tenants often renew more regularly and there are fewer headaches.  It is also common to charge commercial tenants for all repairs and their fair share of annual expense increases and this type of cost sharing is impossible with residential…

[commercial-real-estate-florida]

Buying Commercial Investment Property - Your Office Building Checklist

Buying Commercial Investment Property – Your Office Building Checklist

Many investors prefer commercial investment properties such as small office buildings or small retail shopping centers.  The leases are usually 3 to 5 years, tenants often renew more regularly and there are fewer headaches.  It is also common to charge commercial tenants for all repairs and their fair share of annual expense increases and this type of cost sharing is impossible with residential…

[commercial-real-estate-florida]

Can I break my Lease or Rental Agreement? (Parts 1 - 3)

Can I break my Lease or Rental Agreement? (Part 1)

Most rental agreements have a section regarding the renter breaking the lease agreement. While there is also likely a section or several sections regarding when the leasing agent can evict the renter, the section on breaking the lease should be of particular interest to those who might be in a position to have to break the lease some day. Renters should understand these contract terms so they can make an informed decision. Additionally the renter should consider all costs associated with breaking the lease. This includes both financial costs as well as emotional costs. 

Understand the Contract Terms

Tenants should review their lease agreement carefully before signing this document. The lease agreement is a legally binding document which should be given proper consideration before entering into the agreement. Our suggestion is that you have your attorney review this agreement and insure that the terms meet all of your needs. This is important because understanding these terms will be essential if the need to break the lease becomes a reality. 

Lease agreements typically do not allow the tenant to break the lease but if they do they may include permission to Sublease with the Landlords approval in addition to some form of penalty. This penalty usually comes in the form of requiring the renter to give a specified amount of notice before the contract is up and also requires the renter to pay a sum of money to break the rental agreement. A notice of 30 to 90 days and a lease break amount equal to several month’s rent are common penalties associated with breaking a lease, however, individual landlords may impose penalties which are either harsher or less severe. 

Can I break my Lease or Rental Agreement? (Part 2)

Consider the Costs of Breaking the Lease

As previously mentioned there is typically a fee associated with breaking a lease. This fee is often set equal to several month’s rent in addition to losing any deposits held by the landlord. While paying this fee may seem excessive there are some instances in which it is an economically good decision to break the contract even though there is a financial penalty imposed. 

Consider the example of a business owner who is the process of relocating due to a need to expand their business. The tenant may opt to lease a commercial space in the new state while the current location is put up for sale in the previous state. If the tenant enters into a 12 month contract under the supposition that it will take this long to sell the old location and purchase a new one, he may be surprised if his other property sells quickly and he finds a new one in his new state rather quickly. This may all occur within a matter of 2-3 months. 

The tenant has the option to stay in the rented space until the rental agreement nears expiration and then start looking for a commercial space to purchase. However, this option runs the risk that the property he previously found will not likely be available. The tenant’s other option is to place a bid on the new property and plan on breaking the lease if he is able to close on the new property. In this case, the tenant would be saddled with both a rent and a mortgage for 9-10 months. This will likely be significantly more expensive than the price the renter would pay to break the lease. 

Can I break my Lease or Rental Agreement? (Part 3)

Breaking the Lease is Not Always a Financial Decision

The decision to break a lease is not always completely a financial decision. There are sometimes other components which factor into the equation. For example a tenant may have only 1-2 months remaining on the lease agreement when they are offered a profitable business opportunity which will require the business to relocate immediately. Although breaking the lease that late in the agreement is usually not financially wise, the tenant may make this decision to avoid missing out on the opportunity. 

Most leases offer the option to Sublease or Assign the space provided that the new tenant and terms are approved by the Landlord.  This could really be the best option in many cases. It is important to hire the right broker with experience in subleasing commercial space to help with this process. Subleasing gives the tenant the option to replace themselves in order to avoid having to break the lease.   

We have been helping businesses for years in this capacity. If you find yourself in this situation or know of anyone who is, reach out to us and we will help you evaluate the best solution based on your particular needs.  If we cannot personally help you we can recommend another experienced professional in your area to do so.

[commercial-real-estate-florida]

Notices, Disclosures and Addendums - Part 2

Notices, Disclosures and Addendums – Part 2

Mold Notification

The subject of mold has become tremendously important in the last few years and is also one that can lead to a great amount of liability for property owners. Check with your local landlord’s association for guidance regarding notification of mold. 

In some cases, the addendums which you provide to tenants may not actually have anything to do with potentially harmful…

[commercial-real-estate-florida]

New Website Up!

We are moving our blog to our new website, check us out!

Click on this link to take you to our brand-new updated blog:

https://aimhighercre.com/blog/

[commercial-real-estate-florida]

Notices, Disclosures and Addendums - Part 1

Notices, Disclosures and Addendums – Part 1

When you invest in rental property, it is important to understand that much of what you can do is guided by local, state and federal regulations. In many cases, these regulations provide guidance for the disclosures which must be made to all tenants. This is a matter of law and failure to make proper disclosures can result in quite a bit of legal and financial trouble, so it is always best to…

[commercial-real-estate-florida]

Steps To Achieving Success In Commercial Real Estate

Steps To Achieving Success In Commercial Real Estate

Selling or buying commercial real estate is a very rigorous process. Even if you know a lot already, you might miss something important if you don’t keep learning about commercial real estate. Keep reading to discover some tips that will make commercial real estate a little easier to understand.

You should take digital photos of the condition. Make sure your pictures clearly show any damage or…