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Friday, November 16, 2018

Need to Know Differences Between a Commercial and Residential Lease

It is important to know the differences between a residential and commercial lease because both are treated differently under the law. The distinctions will set out certain rights and obligations for both parties involved in the contract.

What is a Residential Lease Agreement?

A residential lease is most often between a landlord and an individual tenant or family. The agreement is to provide a living arrangement. It is usually set up to include a monthly payment, but not always. The term varies from month-to-month to a term of several years, although one-year leases are perhaps the most common.


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Friday, October 19, 2018

Neighbor Disputes: Property Boundaries

Disputes with neighbors can range widely, from loud parties, to poor upkeep, to boundary encroachments. If you are like most property owners, you take great pride in your land, and you do not want anyone to use property that is rightfully yours. When neighbors start taking down shrubs, planting trees, or putting up fences on your property, that is exactly what they are doing—using your real estate. What can you do to deal with these issues?

Know Your Property Lines

Many people generally understand where their property reaches, but they may not know precisely where the property line is located. In many situations, merely pointing out where you think your property lines lie can halt encroachments in their tracks. In other circumstances, it may be a good idea to call in a professional.


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Tuesday, August 28, 2018

How to Negotiate a Commercial Real Estate Lease

There are number of considerations for business owners involved in negotiating a commercial lease, not the least of which is the fact that the main objective of landlords is to maximize profits. By understanding the following fundamental concepts, it is possible to make a good deal.

Market Conditions

First, understanding the market conditions for commercial properties is crucial. Generally, pricing is based on square footage, but there is a difference between "usable" square feet and "rentable" square feet.

Rentable square feet is the actual measurement of the space that is being leased. However, rates are typically quoted based on usable square feet which combines the space with a percentage of common areas such as lobbies, hallways, stairways and elevators.

In addition, commercial leases are considered "triple net." This means that tenants are also required to pay for taxes, insurance, and maintenance for a unit as well as a percentage of these costs for the common areas. By understanding these market conditions and the rate other businesses are paying for similar units, it is possible to negotiate the appropriate rate.

The Term

There are a number of factors involved with the term of a lease. For some businesses, such as retail stores or medical professionals, having a stable location is essential for attracting customers and patients, respectively. With this in mind, the term should be long enough to minimize rental increases, but sufficiently flexible to avoid getting locked in. This goal can be accomplished by negotiating terms of one or two years with renewal options.


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Wednesday, July 11, 2018

Real Estate Contracts in a Nutshell

Buying a home typically involves entering into an agreement with the seller and most real estate contracts contain standard terms. However, it is essential to consult with an experienced real estate attorney who can review the contract. Let's take a look at some of the key terms in a real estate contract.


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Thursday, June 7, 2018

Overview of the Ways to Hold Title to Property

You are purchasing a home, and the escrow officer asks, “How do you want to hold title to the property?” In the context of your overall home purchase, this may seem like a small, inconsequential detail; however nothing could be further from the truth. A property can be owned by the same people, yet the manner in which title is held can drastically affect each owner’s rights during their lifetime and upon their death. Below is an overview of the common ways to hold title to real estate:


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