My New Blog

August 20th, 2010 4:55 PM

When you need to put a tenant in place, the leasing market presents multiple challenges that parties need to get out in front of to avoid delay in getting moved in.  Landlords can't control everything but they can take a proactive approach to create momentum toward a completed deal.

Negotiating the lease isn't enough any more.  The Landlord must move all transaction elements forward at once.  One place is financing.  If the space needs a build out put the financing in place because the tenant most likely won't have it but your lender should work with you.  You simply amortize the cost in the lease. 

One of the "Biggies" today is "Non disturbance" agreements and subordination clauses.  You may not know it, but if the property goes into foreclosure, the lender can wipe out your lease.  A transaction can be speeded up by the Landlord asking the lender in advance for what is called an SNDA agreement.  In short, that says if the tenant pays the rent I'll keep the lease in place.  In today's world, that is critical. 

Permits and construction take an enormous amount of time.  Work with an architect that can give you their attention and a preliminary drawing right away.  Then give them your business.  They give you quick results, they get to do the working drawings. 

Tenants need to have financials in order and ready.  Arrangements to have insurance can hold up the process.  In Florida, if there is a "named" storm in the Atlantic insurance can't be bound until it's over.  Imagine that as you're getting ready to sign a deal.

Well, I know I've told you more than you want to know so just call me.  I've been doing it for 35 years.  My name is Claude Gardner, 386 846 4135.  Check me out at www.businesslocationsonline.com/resume .


Posted by Claude J Gardner PA CCIM on August 20th, 2010 4:55 PMPost a Comment (0)

Subscribe to this blog
Recent Posts:

Archive:

My Favorite Blogs:

Sites That Link to This Blog:


Prudential Commercial Real Estate FL
Cell:

Contact Us | Home | My Blog

Copyright © 2012 Prudential Commercial Real Estate FL
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin LoginTerms of UseSite Map
All rate, payment, and area information are estimates and approximations only.



 
State:
County:
City:
Zip: