How Apartment Rents Can Impact Commercial Real Estate
This past January, a new study came out that shocked me. Even more shocking is that many people didn’t seem to register the impact of the study, or just overlooked it. What I’m talking about is the study that compares apartment rent costs across the country. With an average price of $4,799, Santa Monica now has the highest apartment rents in the nation, followed by New York. Even more surprising is that Venice, just to the south of Santa Monica is now rated number 5 in the nation, having the dubious distinction of beating out San Francisco. Other than making apartments look like a good investment for the future, what does this mean for our local economy?
How Apartment Rents Can Impact Commercial Real Estate
This past January, a new study came out that shocked me. Even more shocking is that many people didn’t seem to register the impact of the study, or just overlooked it. What I’m talking about is the study that compares apartment rent costs across the country. With an average price of $4,799, Santa Monica now has the highest apartment rents in the nation, followed by New York. Even more surprising is that Venice, just to the south of Santa Monica is now rated number 5 in the nation, having the dubious distinction of beating out San Francisco. Other than making apartments look like a good investment for the future, what does this mean for our local economy?
Tips to Renegotiate Your Commercial Lease & Potentially Save $$$
It’s been almost five years since you started your company, and you’ve done better than most companies out there… you’re still in business. As you move forward you have many things to consider. One important, but often overlooked, area of business is the commercial lease. A commercial lease can be one of the biggest investments for a company with larger leases costing millions of dollars over the lease term. Savings for these larger leases can amount to hundreds of thousands of dollars when negotiated correctly.
Tips to Renegotiate Your Commercial Lease & Potentially Save $$$
It’s been almost five years since you started your company, and you’ve done better than most companies out there… you’re still in business. As you move forward you have many things to consider. One important, but often overlooked, area of business is the commercial lease. A commercial lease can be one of the biggest investments for a company with larger leases costing millions of dollars over the lease term. Savings for these larger leases can amount to hundreds of thousands of dollars when negotiated correctly.
A Tenant Representative is Your Best Ally During Lease Renewals
After 30 years of being in the business, I still hear from tenant clients on their lease renewals: “Why should I use a broker to represent me, wouldn’t I get a better deal if I just used the landlord agent, or just negotiate a term direct with the landlord.” Many tenants also believe that either they have to pay a commission, or if a landlord doesn’t have to pay a commission to the tenant’s broker then the landlord will pass along the savings to them. Lastly, many tenants believe that since they’ve been through lease negotiations in the past, then they know what to do for a lease renewal. These lines of thoughts may and usually does not get the tenant the best deal.
A Tenant Representative is Your Best Ally During Lease Renewals
After 30 years of being in the business, I still hear from tenant clients on their lease renewals: “Why should I use a broker to represent me, wouldn’t I get a better deal if I just used the landlord agent, or just negotiate a term direct with the landlord.” Many tenants also believe that either they have to pay a commission, or if a landlord doesn’t have to pay a commission to the tenant’s broker then the landlord will pass along the savings to them. Lastly, many tenants believe that since they’ve been through lease negotiations in the past, then they know what to do for a lease renewal. These lines of thoughts may and usually does not get the tenant the best deal.