Posted in Businesses in Doral, Commercial Real Estate, Offices in Doral, Offices in Miami, Warehouses in Doral

Can I break my Lease or Rental Agreement (Part 3)

Breaking the Lease is Not Always a Financial Decision

 

The decision to break a lease is not always completely a financial decision. There are sometimes other components which factor into the equation. For example a tenant may have only 1-2 months remaining on the lease agreement when they are offered a profitable business opportunity which will require the business to relocate immediately. Although breaking the lease that late in the agreement is usually not financially wise, the tenant may make this decision to avoid missing out on the opportunity. 

 

Most leases offer the option to Sublease or Assign the space provided that the new tenant and terms are approved by the Landlord.  This could really be the best option in many cases. It is important to hire the right broker with experience in subleasing commercial space to help with this process. Subleasing gives the tenant the option to replace themselves in order to avoid having to break the lease.   

 

We have been helping businesses for years in this capacity. If you find yourself in this situation or know of anyone who is, reach out to us and we will help you evaluate the best solution based on your particular needs.  If we cannot personally help you we can recommend another experienced professional in your area to do so.

Posted in Businesses in Doral, Commercial Real Estate, Offices in Doral, Offices in Miami, Warehouses in Doral

Can I break my Lease or Rental Agreement (Part 2)

Consider the Costs of Breaking the Lease

 

As previously mentioned there is typically a fee associated with breaking a lease. This fee is often set equal to several month’s rent in addition to losing any deposits held by the landlord. While paying this fee may seem excessive there are some instances in which it is an economically good decision to break the contract even though there is a financial penalty imposed. 

 

Consider the example of a business owner who is the process of relocating due to a need to expand their business. The tenant may opt to lease a commercial space in the new state while the current location is put up for sale in the previous state. If the tenant enters into a 12 month contract under the supposition that it will take this long to sell the old location and purchase a new one, he may be surprised if his other property sells quickly and he finds a new one in his new state rather quickly. This may all occur within a matter of 2-3 months. 

 

The tenant has the option to stay in the rented space until the rental agreement nears expiration and then start looking for a commercial space to purchase. However, this option runs the risk that the property he previously found will not likely be available. The tenant’s other option is to place a bid on the new property and plan on breaking the lease if he is able to close on the new property. In this case, the tenant would be saddled with both a rent and a mortgage for 9-10 months. This will likely be significantly more expensive than the price the renter would pay to break the lease. 

Posted in Businesses in Doral, City of Doral News, Commercial Real Estate, Offices in Doral, Offices in Miami, Warehouses in Doral, What's happening in Miami

COMMERCIAL REAL ESTATE INTERNATIONAL BUSINESS TRENDS 2019

Guess which Country is the # 1 Country that invests in Commercial Real Estate Property in the US… Check this article out to find WHO!

http://www.miamirealtors.com/docs/default-source/rca-resources-and-presentations/commercial-real-estate-2019-international-business-trends.pdf?sfvrsn=4

Posted in Businesses in Doral, City of Doral News, Commercial Real Estate, Offices in Doral, Offices in Miami, Warehouses in Doral, What's happening in Miami

Get Up to Speed on O-Zones

I’m super proud of my friend Danny being interviewed for this article with NAR regarding the O-Zones “Opportunity Zones” and their benefits. Want to know more? Message me…

https://magazine.realtor/commercial/feature/article/2019/02/get-up-to-speed-on-o-zones

Posted in Businesses in Doral, City of Doral News, Commercial Real Estate, Offices in Doral, Offices in Miami, Warehouses in Doral, What's happening in Miami

Florida Law now allows self-driving vehicles without human passengers on the road

They are here and they are LEGAL…. and it is only the beginning! Check this article out to find more information about this topic

https://www.orlandoweekly.com/Blogs/archives/2019/06/13/florida-law-now-allows-self-driving-vehicles-without-human-passengers-on-the-road

 

Posted in Businesses in Doral, City of Doral News, Commercial Real Estate, Offices in Doral, Offices in Miami, Warehouses in Doral, What's happening in Miami

GrowthX Founding Partner, Sean Sheppard, to Keynote SUP-X: The StartUp Expo

For all my Business Owner Friends out there:

Here is an event you may enjoy . It will be held on Thursday, July 25, 2019, at the Fort Lauderdale Convention Center.

GrowthX Founding Partner, Sean Sheppard, to Keynote SUP-X: The StartUp Expo

 

Posted in Businesses in Doral, City of Doral News, Commercial Real Estate, Offices in Doral, Offices in Miami, Warehouses in Doral, What's happening in Miami

How To Hire The Right Real Estate Broker for Leasing Commercial Property

Fact is, the potential for commercial real estate profits usually surpass that of residential properties. When diving into the world of commercial real estate, it is important to stay calm and be patient. Do not invest into anything before thinking carefully. You might find out that the property is not what you needed after all. A professional and experienced Commercial Real Estate Broker can help you make an educated decision and save you time and money.

If you are looking to lease a property whether you are the landlord or the tenant, here are some questions to ask the broker when interviewing him or her.

  1. What locations, cities, or specific neighborhoods are you most familiar with in your practice?

  2. What is your experience as a broker?

  3. Can you share some of your success stories?

  4. Do you specialize in specific types of properties?

  5. Have you negotiated a tenant improvement allowance and worked through a build out before?

  6. Have you ever worked with a company like mine before?

  7. What will your broker services cost me?

  8. Do you represent any buildings or landlords?

As you comb through possible brokers, search for those who have extensive experience in commercial markets. Verify they have experience in working with the type of properties you are interested in. Keep in mind: Entering into an exclusive agreement with that particular broker is a good idea.