If you own a small business, you know that the rent you pay on a commercial property is significant -- which means that it's important to get what you're paying for each month.
When a commercial tenant leaves under less-than-favorable circumstances (either through eviction or outright desertion in the middle of the night), a lot of their personal property can be left behind.
Finding the right space for your commercial enterprise is important -- and you may be anxious to jump on the lease as soon as possible.
There are plenty of property managers for hire out there who can handle the day-to-day issues that come with owning rental property and dealing with tenants. However, finding a good one can take a little digging.
Imagine this: You rent a sizable space for your restaurant in a nice commercial center. Business is so good that you'd eventually like to expand -- so you're thrilled to find out that the tenant next to you is moving out.
If you own a multi-unit commercial building, whether it's a plaza full of spaces or a building full of offices, beware of the exclusive use clause. Most of your tenants, if they have any experience with commercial leases, will want them. However, agreeing to broad terms could turn your rental property into a nightmare.
Rental landlords should know that there's a right way and a wrong way to evict a tenant. The wrong way is posting a 72-hour notice on someone's door after a hurricane, having their electrical power cut off and telling them that you want them out so that repairs can be made after a hurricane blew through the area.
What can a tenant do when a landlord fails to maintain a property in a way that he or she is legally obligated to do?
When you apply for a commercial lease, you can bet that the landlord is going to do a little digging around in your background to make sure that you're the right tenant for the place.
If you're a small business owner looking to rent space in a busy strip mall or shopping center, you need to watch out for relocation clauses in a lease before you sign.