Profile cover photo
Profile photo
Lynn Drake
6 followers -
Putting Tenants First
Putting Tenants First

6 followers
About
Lynn's posts

Post has attachment
Hi,

We don't update this account anymore. You can find us at www.compass-commercial.com

Thanks Lynn Drake

Post has attachment

Whats the most ridiculous office/industrial lease language you have ever seen?

Post has attachment

Post has attachment

Post has attachment
The Seven Year Itch: Just because your lease contract says seven years doesn’t mean you can’t negotiate sooner. In fact, it may be in your best interests to do so. If you have two years left on your lease, think about a “blend and extend” option.What this means is starting with a fresh lease at an earlier date and extending it farther than initially planned. Such a contract may work to both your advantage and the landlord’s. This is a real win-win proposal. Listen up.Commercial real estate mortgages – while amortized for 20 to 30 years – are actually written for five years which puts landlords in a big predicament in these troubled times. Some landlords find they can’t get refinancing because the existing tenants don’t have a long enough commitment to assure constant income for the building owner.When the landlord has an arm full of new five-year leases he or she looks, more credit-worthy to the banks. Before you propose this idea, remember to do your due diligence. Devote time to getting some competitive bids that will shape the rental price.Then ask your landlord to put aside the remaining lease terms and write a new five-year lease at today’s rates. A five-year contract may look a lot better to this landlord than a two year contract and it locks in a low price should leasing rates skyrocket. We’ve found a great interest in this sort of plan among solo and corporate landlords. It provides some stability in an ever changing world.Will all landlords approve this kind of deal? You can’t predict the future until you present the proposal. If you strike out, you still have two years to develop a better deal. Compass Commercial has accomplished blend and extend deals on about 20 percent of our properties. Not all properties qualify.This is a far better risk than the lottery or day trading on Wall Street. If we can reduce your rent now instead of two years from now you will be skipping all the way to the bank – enjoy your new found money. Just for fun, here is the trailer, The Seven Year Itch-Trailer to that wonderful Marilyn Monroe classic, “Seven Year Itch.” Enjoy!

Post has attachment

Post has attachment
Timing IS Everything!
The hours you spend pacing the floor, waiting for a family member’s first child to be born; the minutes you spend waiting for your computer to boot up; and the seconds you wait for a text message; each of these intervals remind you of that inescapable truth - timing is everything.

Post has attachment
Do You Have an Edifice Complex?

Post has attachment
Wait while more posts are being loaded