Leased Commercial Property and Tenant Improvement Allowances!

When leasing commercial property, there are times when the location and price is right but the available space does not quite fit specific business needs. In such instances, property owners may agree to allow for tenant improvements which can be a workable compromise for both parties to finalize the lease. If it is decided that…

When leasing commercial property, there are times when the location and price is right but the available space does not quite fit specific business needs. In such instances, property owners may agree to allow for tenant improvements which can be a workable compromise for both parties to finalize the lease. If it is decided that tenant improvements will be a part of the agreement, a Tenant Improvement Allowance (TA) should be discussed in detail and documented to remove any questions.

Definition

A Tenant Improvement Allowance is an amount of money deducted by a landlord from the property lease price in exchange for a tenant making any necessary improvements. This results in a business getting what is needed to operate and a property owner paying for such improvements through a discount on the lease for a certain period of time with the improvements becoming the property of the owner.

Caution

Although it sounds simple enough, a TA agreement can be complex and should be negotiated with caution. This is beneficial to a business looking to lease a specific commercial property; however, there has to be a benefit for the property owner as well in order to go to the trouble of negotiating and allowing a tenant to make improvements. In a weak rental market with many properties sitting empty, this provides the ability to get a space leased and bringing in a monthly income.

Details

Before a TA amount is agreed upon, construction estimates of the work to be done should be obtained. All work should be completed by professional contractors per normal contract stipulations. The TA amount is usually discussed after estimates have been received; some details should be handled before a contract are signed, including who will actually manage the improvement project.

  • Landlord Control – In this instance, the owner hires the contractors, see the job to completion, and pays for the work. The lessee pays for this agreed-upon amount of rent as previously discussed during negotiations which is frequently the estimate cost and not the actual cost of the improvements. The tenant has little control over what is actually done or whether it suits business needs.
  • Tenant Control – The tenant may have control over the project, which sounds very good for the tenant. There is a chance that any complications during construction such as increased material price or faulty prior construction that must be repaired before new construction could begin the responsibility of the tenant. This could cause a tenant to have to pay for adjustments and repairs costing more than what the TA allows.

Professional Handling

For the above reasons, it would be wise for a tenant to retain either a broker or a real estate lawyer to handle the issue, especially if the project will be in the hands of the lessee, which would be beneficial to the property owner to be relieved of responsibility for any consequent construction problems. Most brokers advise tenants against being responsible for such a project as major construction problems should be the responsibility of the owner and not the tenant. A professional broker can handle any such issues for a tenant.

Beside control of any construction project when leasing with a TA, there are other concerns as well, including: documentation of any agreements; specific information on agreed-upon improvements; completion delays; and distribution of leftover TA funds if not exhausted at the end of the project.

With all of the important points discussed above well-clarified, any commercial property lease that allows for tenant improvements can work out well for both of the involved parties and deliver a resolution satisfactory to both tenant and owner!

Guard Against Hidden Fees in An Office Lease!

Negotiating a commercial office lease to the point of finalization can be complicated. Bargaining may be involved to get the details arranged and a contract signed. Before rushing into any final agreements, businesses should be explicitly aware of what is or is not included in the payment. Inclusions and certain costs should be obvious, which…

Negotiating a commercial office lease to the point of finalization can be complicated. Bargaining may be involved to get the details arranged and a contract signed. Before rushing into any final agreements, businesses should be explicitly aware of what is or is not included in the payment. Inclusions and certain costs should be obvious, which can sometimes be hidden without the right questions are asked.

Contract Review

Contracts are generally written to benefit the lessor, although that is not how it always appears. Commercial leasing is a subject with many gray areas, as contracts are sometimes written very ambiguously for this reason. It can leave a lessee liable for items not specifically agreed upon or claimed to be included with any agreed fees. Money can be unnecessarily lost this way when hidden fees are uncovered. While some of these charges may just be a matter of simple ignorance on the part of the lessor, many times they are not; therefore, it is up to the lessee to look for such things and bring them out before contract signing.

Overcharges

Some of the usual places where companies end up being overcharged on their rental agreement include such things as utilities, maintenance, moving charges, and real estate taxes. The fact that these expenses do fluctuate makes it even harder to detect problems. Following are some of the potential areas:

  • Operating Expenses – Operating expenses can be passed on to a tenant in the lease cost; however, it should be clearly defined what constitutes an operating expense and be sure it is not re-billed under another category. An example would be charging for general building maintenance while also charging for supplies, staff pay or specific items that would normally be considered maintenance. Specifying exactly what building maintenance includes, even payment for cleaning products, can make a big financial difference after a year.
  • Real Estate Taxes – Agreeing on a portion of real estate taxes to be paid is another area of ​​confusion that must be carefully interpreted. Documentation as to how payments will be affected when taxes increase should be addressed in the contract.
  • Utilities – These costs present another area where determination of what constituents such costs needs to be stated and the written contract must be reflective of this. Without very careful, tenants could find themselves paying for electricity that was included as part of the operating expenses. It is also common for a lessor to quote an approximate cost rather than an actual cost that could be a lot more money. These are just some items that should be nearly monitored in a lease contract by the tenant.
  • Moving Expenses – Another hidden fee when moving into an office building can be freight elevator use to get furniture and equipment in place. Any costs for such usage should be clearly spelled out in the contract to avoid unexpected fees. It is not uncommon to also face damage costs when moving out, even if some were originally there. If damages were pre-existing and not documented, a tenant could have forced to pay for whatever damage is discovered for use of the building.

Professional Assistance

To reduce the risk of hidden fees, a lawyer or real estate broker should be retained by a business to assist with the fine details in a lease contract, both those included and not included.

Property owners want to recoup as much money as possible for expenses. An ambiguous contract will leave the door open for just such an occurrence as paying for unnecessary fees. A detailed, well-documented lease can end up saving a lessee a great deal of money over the course of a year, so hiring a contract lawyer or real estate expert to guard against hidden fees should have considered a top priority!

Have You Considered Commercial Property Loan Restructuring?

In difficult economic times, the strain is felt by everyone, including entrepreneurs involved in all aspects of creating and running businesses. Considering the fact that commercial property loans are usually the largest liability of a company, it is no wonder that so many such loans are in default, which only makes the bigger economic picture…

In difficult economic times, the strain is felt by everyone, including entrepreneurs involved in all aspects of creating and running businesses. Considering the fact that commercial property loans are usually the largest liability of a company, it is no wonder that so many such loans are in default, which only makes the bigger economic picture worse. Bankruptcy is rarely the most beneficial option, even when it looks like the only option. Commercial loan restructuring could be an answer to prevent loan default and bankruptcy, providing a much-needed second chance at survival.

Although it is definitely not an easy process, commercial loan restructuring is probably worth looking into at the very least. There is much that needs to be known about restructuring and it may be beneficial if not essential to hire a loss mitigation professional to work on behalf of a business to try to find a resolution. In what could be a highly complex process, experienced professionals are the best way for a failing business to find some kind of relaxation on mortgages. Following are some important factors to consider.

  • Commercial Mortgage-Backed Security (CMBS) – These loans can be exceptionally difficult to get restructured because of how they are financed. It is not only lending institutions backing them but private commercial property investors involved with multiple loans and investments. Therefore, one of the main problems in trying to obtain a commercial structure involves tracking down all loan-backing names to be included in the process.
  • Special Servicers – There are often difficulties in dealing with 'Special Servicers' who are financial professionals that take over commercial accounts that are either into or going into default. The task is to get a debt out of default; with no real connection to either party, frequently whatever can be done to push a loan straight to foreclosure and liquidation is carried out. In some cases, such a direction could have been the best thing; however, in many cases especially considering a lot of the CMBS investors will lose money, it is not the best move and investors fight the Special Servicers on foreclosure. Part of the issue with this scenario is that there is little regulation preventing this from happening. When all is over, a fee is paid and the case is considered closed; to the business and investors, it is in most cases a huge financial loss.
  • Outside Help – The biggest reason for hiring a professional on behalf of a business itself is to analyze things and fight for options other than foreclosure. When done successfully through structures that may involve interest reductions, principal reductions, or even acquiring the financial support of an additional investor may be a wise move. It is true that this does involve much intensive work, which is the very reason that Special Servicers try to bypass this.
  • Best Option – With this in mind, it needs to be carefully determined whether restructuring is best for the loan or if it would be better to let Special Servicers handle it all. Change is happening today in regard to such arrangements and how these people are allowed to dictate what happens. Both the banking industries and government have realized that this sector of the loan industry is potentially making things worse for business owners and the economy, rather than better.

For businesses unable to pay for commercial property loans, there are not many options to consider when trying to keep afloat in the sea of ​​uncertainty. Many find themselves at the mercy of their particular lender and that group's investors; it is true that there are definitely better ways to deal with such problems. Obtaining a commercial property loss mitigation specialist is going to be a key factor and may be the only way to avoid the Special Servicer's chopping block until there is more regulation on commercial restructuring!

The Splendor of Washington, DC Is the Result of a Master Plan Created Centuries Ago

Washington, DC, famously known as the capital of the United States, has historical, cultural, culinary, entertainment, and architectural appeal. Individuals come from all over the world to see this fine city during various times of the year, with only a few months being considered an inopportune time to visit. Famous landmarks in the region offer…

Washington, DC, famously known as the capital of the United States, has historical, cultural, culinary, entertainment, and architectural appeal. Individuals come from all over the world to see this fine city during various times of the year, with only a few months being considered an inopportune time to visit. Famous landmarks in the region offer great insight into the vision of the founding fathers. Powerful words can be found on historical structures such as The Capital, Lincoln Memorial, and the Washington Monument. As a municipality with great government influence, Washington, DC offers inspirational scenery not found in other tourist-centered cities. Originally called the District of Columbia, this metropolitan marvel was approved to be the capital in 1790 as part of the US Constitution. It is not considered a portion of the states, but instead viewed as an individual entity used as the center for national government, foreign embassy, ​​financial operations, and commercial business.

The Marvels of this Metropolitan Region

The wonders offered by this beautiful city surpass any other desired travel destination. This unique district extends over sixty-eight square miles with just under seven consistent of water. Surrounded by Maryland on three sides, the location is complimented by the Potomac River, Anacostia River, and Rock Creek. Visitors have over seven thousand acres of gardens to view since they make up almost twenty percent of the area. A subtropical climate creates four unique seasons with winter temperatures averaging thirty-eight degrees Fahrenheit. Summers offer increased humidity with temperatures averaging around eighty degrees. As a planned metropolis, Washington, DC entails a large variety of exquisite buildings complemented by gardens, shopping areas, and commercial business sectors.

80 M Street, consisting of over three hundred thousand square feet, is one example of the exquisite commercial architecture found throughout the area. Designated as an office complex, this structure contains conference rooms, underground parking, a fitness center, cafeteria, shuttle services, and additional amenities. It is located not far from the Navy Yard and in near proximity to the Eastern Market Metro Station. Currently home to multiple tenants including BAE Systems, 80 M Street is a towering multi-level structure retaining at the intersection of two streets with Nationals Stadium located only a few blocks away. Nearby attractions consist of Canal Park, Randall Recreation Center, and Diamond Teague Park.

Pierre Charles L'Enfant, a French architect, was commissioned to design this national district. His plan, inspired by the cities of Paris, Milan, and Amsterdam, included wide streets that radiated in a rectangular fashion to provide an increased amount of open space for garden scenery. The designer was dismissed in 1792 due to conflicting views with commissioners. This caused Andrew Ellicott to become responsible for finishing the design. Today the city is filled with government buildings, monumental landmarks, and a citywide system of parks. Old style or modern structural designs can be found as one explores the district of Washington. Travelers have the opportunity to experience cultural activities at the National Mall or see exhibits at the Smithsonian Institution. Art, culture, and history are just the tip of the iceberg for anyone traveling to this destination.

Use a Cost Segregation Study to Improve Your Bottom Line

The IRS gives a tax break called depreciation to commercial property owners. According to the rules, an apartment building will be worthless after 27.5 years of ownership. That means a building depreciates about 1/27, or 3.64% per year. Therefore, each year the owner is allowed to deduct 3.64% of the building's value from the property's…

The IRS gives a tax break called depreciation to commercial property owners. According to the rules, an apartment building will be worthless after 27.5 years of ownership. That means a building depreciates about 1/27, or 3.64% per year. Therefore, each year the owner is allowed to deduct 3.64% of the building's value from the property's income before computing the tax liability.

Non-residential commercial property is depreciated over 39 years, so each year 2.56% of its value can be deducted as an expense.

It must be noted that land does not depreciate, at least according to the IRS. Many property owners use an 80/20 rule to value the building versus the land. In the case of an $ 800,000 purchase, the building (s) would be valued at 80% of that or $ 640,000. The land would therefor be worth $ 160,000. Starting at this point, an apartment owner could deduct $ 640,000 x 3.64%, or $ 23,296 each year. For an owner in the 28% tax bracket, that's a real savings of $ 6,522.88 a year.

However, through a formal procedure known as a Cost Segregation Study (CSS), much greater savings can be realized. The IRS allows you to speed up depreciation on certain elements that make up the property. For instance, many land improvements such as parking lots, fences, sidewalks, sewer lines, etc. can be written off over a 15-year period. Items classified as personal property can be depreciated over a 5- or 7-year period. Examples include carpets, appliances, window coverings, countertops, cabinets and more.

From the perspective of saving on taxes, the savvy commercial property owner will label as much property in the 5-year category as possible. If $ 100,000 of personal property was so designated, for each of 5 years the owner could take $ 20,000 as depreciation expense, lowering his taxable income. If that much property had not been segregated out, it would have depreciated over 27.5 years, resulting in only $ 3,636 saved per year. Over the 5 year period, just this one category would save over $ 81,000 in taxable income.

Let me give you a real life example. We recently purchased an 18-unit apartment property for $ 800,000. As noted above, if we just took 80% of this as value of the buildings and depreciated it over 27.5 years, we could expense just over $ 23,000 a year.

Now let's see what happens when we do a Cost Segregation Study. To be in compliance, you need to have a third party perform the CSS. We picked a local engineering firm that specializes in this process.

They went into one unit of each type: studio, one bedroom and two bedroom. They measured the carpet, the countertop space, the cabinets, floor molding, window covers, electrical outlet covers, lights, interior doors and shelves, etc. Outside they inventoried the exterior lights, parking lot, fencing, retaining walls, planters, handrails, sidewalks and more. The ended up with almost 100 items put into the 5-, 7- or 15-year categories.

Here are the totals in each category:

5-Year: $ 86,775

7-Year: $ 66,543

15-year: $ 66,369

27.5-year: $ 511,916

Taking the first number, you can take 1/5 of the $ 86,775 or $ 17,355 as an expense every year for the first 5 years you own the building. Similarly, you can take 1/7 of the $ 66,543 or $ 9,506 each year for 7 years and 1/15 of the $ 66,369 or $ 4,425 per year for 15 years. And you also get 1/27 of $ 522,916 or $ 18,615 per year for 27.5 years.

So in each of the first 5 years you can deduct $ 49,901 from the property's income before figuring your taxes. If you have a loan and are deducting the interest payments, that's also deductible, along with your usual operating expenses. Thanks to the great power of the CSS, it's actually possible to have a property throw off great cash flow and still show a loss on your investors' K-1s. So they can have an income stream as well as a deduction on their personal taxes.

When you sell the property, the total amount you claimed as depreciation will be taxed (currently) at 25%. Still, you've saved way more than that upfront, so it's still a great thing to do. And if you take advantage of a 1031 exchange when you sell, you can push that tax even further into the future.

Be sure to have a good conversation with your accountant before you get into this. It can really save you a lot of money over the long haul, but it's best to leave the details to the experts.

Atlanta, Georgia: A City Where Postmodernism Works

Atlanta, recognized for its modern architecture, supplies individuals with a plethora of cultural, historical, dining, and entertainment activities. March through May is one of the best times to visit this artistic city. Because the city thrived during the Civil War period, Atlanta offers historical attractions to visitors relevant to the time. The city is home…

Atlanta, recognized for its modern architecture, supplies individuals with a plethora of cultural, historical, dining, and entertainment activities. March through May is one of the best times to visit this artistic city. Because the city thrived during the Civil War period, Atlanta offers historical attractions to visitors relevant to the time. The city is home to the first twenty-four hour news station CNN, giving individuals the opportunity to tour the famous studios. Area attractions include the Martin Luther King Jr. National Historical Site, Hard Rock Café, Centennial Olympic Park, and much more. This metropolitan location houses numerous companies including Fortune 100 organizations such as Home Depot, the United Parcel Service, and AT & T. An additional twelve hundred and fifty multinational organizations have offices in this metropolis. Big business, extensive history, and contemporary attractions make Atlanta the perfect location to visit, stay in, or for managing company relations.

What Sights can Tourists Visit?

Delta Air Lines serves as one of the largest employers and operates the busiest hub at Hartsfield-Jackson Atlanta International Airport. The financial sector of this city is sizable with institutions such as the SunTrust Bank having home offices in the downtown area. Individuals can find the Federal Reserve System district headquarters, designed to handle southern financial operations. Biotechnology roots have been slowly growing within the region as events like the BIO International Convention have transpired. Organizations like the Centers for Disease Control and Prevention (CDC) also contribute to the increased presence of this technology sector. The metropolis is a major center for cable programming due to the creation of Turner Broadcasting Systems.

Commercial architecture is of a contemporary style with Bank of America Plaza being the tallest skyscraper in the area. This building, spanning over one thousand feet in height, is recognized as one of the highest structures in the United States. Previous buildings of older architectural style were destroyed as the city adopted a postmodernism approach. These included the Equitable Building, one of the first skyscrapers, and the Carnegie Library. One Glenlake is a contemporary office building constructed in 2003 housing Oracle USA and Newell Rubbermaid as its largest tenants. Located next to the intersection of GA 400 and Abernathy Exit, the structure at One Glenlake creates a towering presence of modern architecture. Visitors can find amenities such as conference room, fitness room, café, and have easy access to other areas. Residential neighborhoods span the surrounding region to provide a good balance of upscale business in a laid back atmosphere.

Widespread attractions are available for individuals traveling to Atlanta including museums, theaters, and historical sites. The Alliance Theater accommodates diverse audiences by holding world premieres. Those who enjoy plant life can explore over thirty acres of diversity foliage at the Botanical Gardens. Sports fans have the choice of seeing an Atlanta Braves game in the warmer months or can peruse the team's museum full of over six hundred artifacts. Electric car tours, Little Five Points, and various arts centers can be found while touring this metropolitan location. New experiences and immense structural accomplishments await anyone wanting to take their turn in the “Gate City of the South.”

Lease Negotiation – A Fast Guide

Many small companies will choose to acquire new offices without professional help from commercial property agents or even conveying solicitors. They will often decide to negotiate the lease terms independently. On the other side of the fence the landlord will usually have the help of both a commercial property agent and a solicitor. This often…

Many small companies will choose to acquire new offices without professional help from commercial property agents or even conveying solicitors. They will often decide to negotiate the lease terms independently.

On the other side of the fence the landlord will usually have the help of both a commercial property agent and a solicitor. This often puts the tenant at a disadvantage, and the lease terms will end up being weighed more heavily in the landlord's favor.

Many small companies will choose to acquire new offices without professional help from commercial property agents or even conveying solicitors. They will often decide to negotiate the lease terms independently.

On the other side of the fence the landlord will usually have the help of both a commercial property agent and a solicitor. This often puts the tenant at a disadvantage, and the lease terms will end up being weighed more heavily in the landlord's favor.

The expertise of a commercial property agent and converyencing solicitor will make sure you are in the best position to obtain a tenant friendly lease. This article discusses the most important points that you should be aware of when negotiating on an office lease.

• It is not normal practice for you to pay legal costs on behalf of the landlord, so do not agree to this.

• Make sure you ask for a break clause (or a clause which allows you to terminate the lease early), as this gives you critical flexibility, and makes it easier to get out of. Without the break option you will have no choice but to assign or sublet the lease. If you can agree a break clause, then it helps to think about at what point your company will need to move – ensure that your break clause suits your requirements.

• It is always a good idea to improve your cash-flow, especially if you are a new company, and you can achieve this by getting a rent-free period, and to negotiate rent payments each month, as opposed to each quarter.

• Make sure you appreciate the result of the Stamp Duty Land Tax (SDLT). This tax on leases is complicated to work out, but in general you can calculate it by multiplying the amount of rent by the length of the lease (in years) subtracted by £ 150,000. The total SDLT liability will be around one percent of the figure you work out. For example, for a £ 25,000 rent applicable over a ten year lease period, the SDLT liability would work out as roughly £ 1,000.

• Make sure that you check the condition of the concessions, and if you find anything below standard, then insist on a schedule of condition. This ensures that there is an official record of anything needing repair at the start of the lease, so that the repair costs for these things do not have to be paid by you.

• It is usually the best idea to have the lease put in the name of your limited company if this applies to you. If you do not own one already, then you can apply for one for comparatively little. You can then provide a rent deposit instead of director's guarantees if your business can not provide sufficient suitable references. This allows you to restrict your liabilities.

• Cap your service charges to mitigate large bills for repair and replacement.

• Ask for longer leases if your company value is linked to the property, and prevent the landlord from being able to remove your right to renew the lease. This applies specifically if you plan to dispose of the property at some future date.

• Make sure all initial changes and signage are approved before you sign the lease contract, otherwise you may have to pay for legal and survey charges.

Do I Really Need a Commercial Realtor?

The difference between using a realtor to buy or sell commercial property can literally be the difference of thousands of dollars. Buying or selling commercial real estate is a little trickier than residential property. There are more documents and contracts involved, and it typically takes longer to close. Not being protected by a commercial Realtor…

The difference between using a realtor to buy or sell commercial property can literally be the difference of thousands of dollars. Buying or selling commercial real estate is a little trickier than residential property. There are more documents and contracts involved, and it typically takes longer to close. Not being protected by a commercial Realtor can end up costing you time, energy, and money.

If you are buying commercial real estate, either building, lot, or vacant land, having the right Realtor helping you with all the details can help make a better informed decision. Each commercial property will have its specific addendum and documents specific to that property. Making sure everything is signed correctly and that your rights and interests are protected is the job of a commercial Realtor. Any major mistakes typically fall on the Realtor not on the buyer. Unless you simply walk away from the deal most commercial Realtors are able to terminate the purchase and sale agreement if need be. There are different rules, finance restrictions, and laws to protect buyer and seller in a commercial real estate transaction.

If you are selling commercial property, not hiring a professional commercial Realtor can mean the difference between selling and sitting on the market for months. Selling commercial real estate typically takes longer than residential but there is more money at stake and listing agents must find the right buyer that is financially capable and willing and able to complete the transaction. Using a Realtor that specializes in commercial property allows you the benefit of networking with possibly hundreds of other commercial Realtors around the country. This gets your property in front of thousands of buyers for more prospects as a faster sale. Many residential Realtors are not only under qualified but may not even have the license necessary to sell commercial property. It takes a special agent or Realtor to sell or buy commercial property. There are certain certificates and forms as well as separate education that must be competed to buy and sell commercial real estate. Check with your specific state for details regarding this as it can vary by state.

Commercial property is an animal all of its own. If you are new to the commercial real estate business or have never sold commercial property in the past, you need to be fully aware of your rights, potential profit, and business needs. The commercial realtor is not only smart but could save you thousands of dollars either in profit in your pocket or digits of the sale.

Atlanta Offers Wondrous Structural Design Sights to Visitors

Atlanta, Georgia is recognized for its offered cultural, entertainment, historical, and culinary experiences. As the birthplace of Rhett Butler and other famous figures, the region has greatly advanced since the time of the Civil War. Today, the metropolitan area is highly regarded for art, bohemian shops, and international dining experiences. The city has made multiple…

Atlanta, Georgia is recognized for its offered cultural, entertainment, historical, and culinary experiences. As the birthplace of Rhett Butler and other famous figures, the region has greatly advanced since the time of the Civil War. Today, the metropolitan area is highly regarded for art, bohemian shops, and international dining experiences. The city has made multiple historical contributions including the introduction of the railway system to the Midwestern portion of the country. The city served as a hub for military operations for the duration of the Civil War, and was designated by General William Tecumseh Sherman in 1864. The general ordered all confederate associated properties to be destroyed. It was a key location to the Civil Rights Movement and later contributed to the early beginnings of CNN in the eighties. As a hosting site of the 1996 Olympics, Atlanta offers a vast history in almost every significant period beginning from the initial creation of this country.

Prevalent Architecture in “The ATL”

Postmodernism is one of the dominant commercial architectural styles found throughout the city of Atlanta. The AT & T Lindbergh Center is one such example that stands in a business section next to Alexander Park off the Northeast Expressway. The building consist of two twin towers that exceed a complex of business facilities accessible by bus or the expressway. Bus services extend to various additional attractions including the Ansley Mall, Atlanta History Center, and Dekalb-Peachtree Airport. The station began operations in 1984 as a single platform; however, it has grown into a central hub for those wanting to access certain areas of the city. AT & T Lindbergh Center, standing above this vast commercial sector, provides great views to all visiting the structure. Residential neighborhoods surrounding each side of the region to deliver gorgeous natural scenery.

John Portman Jr., a native to the area, had considerable influence in regards to the structures found in this region. The American architect, born in 1924, is most known for the concept of multi-storied inner atriums. Additional creations in the immediate Atlanta region include Americas Mart, the Peachtree Building, the Tower, and SunTrust Plaza. Portman contributed to the design of highly regarded structures found in Los Angeles, Detroit, China, and several other world locations. Buildings from the late 1800s remain standing; however, all structures dating before this period were burned down by Union troops. Residential structures found around inner neighborhoods were built beginning in the late 1800's.

Victorian, Craftsman bungalows, and Revival styles exist in these portions of Atlanta. Outer neighborhoods built at the end of World War II have a more modern suburban style. Structural views have less of a southern influence since this railroad hub contains visions more akin to the seaport atmosphere of Charleston. The metropolis took a progressive route after original architectural creations were burned during the Civil War. Visitors can expect to see a cityscape of modern styles created by popular twenty century designers like Michael Graves. Every section has its own distinct architectural features along with an array of sights for travelers. Atlanta delivers music, theater, fine arts, and great cuisine to anyone desiring to see this stunning cityscape.

Understanding Commercial Real Estate Contingencies

There are a lot of problems that you will encounter if you are going to get into a real estate transaction, and one of the best things that you can do about it is to have a real estate contingency. Unfortunately, there are only a few people who are aware of this, and is the…

There are a lot of problems that you will encounter if you are going to get into a real estate transaction, and one of the best things that you can do about it is to have a real estate contingency. Unfortunately, there are only a few people who are aware of this, and is the reason why there are people who are having problems whenever they experienced something that they actually expect. In this article, we will be talking about more commercial real estate contingencies and the things that you need to know about it. Read on to find out how you can use this to protect yourself from conflicts that you will encounter.

To make it simpler, commercial real estate contingencies are escape clauses for buyers or sellers whenever they have problems with the contract. For example, if you have had problems, and it fall into the category that is covered with your contingency, then you can use it to save yourself from the obligation, and simply move on to another negotiation with the buyer or the seller. We all know that there are a lot of problems that you will encounter if you are going to get into real estate transactions, but with the help of contingencies, you will be able to protect yourself from it.

However, there are also some problems that are related to your your contingencies. Since this will be clearly stated in the contract, this will not go unnoticed by the other party. This means that it will be very hard for you to pass a contract, wherein the contingency is only favorable for you. This is the reason why a realty agent or a realtor is important during real estate transactions. They do not have an interest in the property, and they will be able to come up with terms that are favorable for both parties.

Contingencies will serve as your safety net when getting into realty transactions. You do not have to do anything in order to make it beneficial for you, because the real estate agent or the realtor is already aware of the things that you can expect from them. Just make sure that you are going to talk to the seller or the buyer about it before you even have it stipulated in the contract. There are problems that you will encounter with it, so you need to be sure that you have the support of the other party.

There is nothing very technical when talking about contingencies, because it is a very basic process. The only problem that you will encounter is that you need to predict the problems that may occur, which could be very hard for an average person without great knowledge when it comes to real estate.

Rental Office: A Profitable Option

Commercial property has always been on high demand, because of the advancement of society. This is the reason why commercial land has a higher cost than the residential one. The growing inflation has also caused rapid increase in real estate prices. It has become almost impossible for people with limited funds and resources to acquire…

Commercial property has always been on high demand, because of the advancement of society. This is the reason why commercial land has a higher cost than the residential one. The growing inflation has also caused rapid increase in real estate prices. It has become almost impossible for people with limited funds and resources to acquire a commercial office space. Buying commercial property involves big investment that can only be handled by big businesses. They have impressive concessions and large capital. The larger turnover makes them capable of affording this sort of expense. However, getting a rental office is the ultimate solution for small businesses. With limited resources, renting an office space makes your business look professional. It is not only an affordable alternative, but is also extremely convenient.

It is healthy for companies at their initial stage to utilize all their resources for the betterment of their business. A rental office can save them a lot of money that can be used for other purposes. Most of the people are not an expert at real estate matters. Therefore, consulting a real estate agent can be very beneficial. There are countless real estate agents with great experience offering their services to the businesspeople. Basically, they act as the middleman and help in getting the right rental office with adequate amenities. It is extremely important for you to get an affordable space that can easily fulfill your requirements. Real estate agents are well-informed on this subject and can make the search easier for you.

Running business from home may be an intriguing idea, but it has fewer chances of succeeding. It does not carry a professional look, which is not acceptable. Therefore, it is favorable to get a rental office for your business in order to create an excellent impression on the customers. Tomorrowmore, it will give you an incredible place for carrying out all the business activities, like meetings and discussions. Finding a suitable space was difficult in the past, but has simplified with the advent of the internet. Conducting an online survey will enable you to get further information regarding rental offices. There are various websites that provide services to help consumers in hunting for commercial property.

A growing company always expands with time. This makes a rental office ideal plus convenient. The awards can be changed according to the business requirement. The largest advantage offered by a rental space is that you can shift to another location without even completing the tenure. It makes the business expansion process less hectic and simpler. Apart from all the other benefits, a rental space also has numerous tax advantages that can be a boon to the business owner. According to the law, you are liable to pay only a deductible amount of tax.

The location of the office plays an important role in the development of the business. Therefore, the office space must be selected in an area that is convenient for the clients as well as the employees. This results you from losing your valued employees even you shift your office to a larger location. It is suggested to conduct a meeting with the members associated with your business before renting a place. This will help you in selecting the right location for your office.

A Serviced Office Can Save You Money

The economy around the world is showing signs of improvement, but for many small and medium-sized businesses, the going is still tough. Many are going out of business or filing for bankruptcy, while others are looking for any way possible to streamline their operations and save precious money. One of the solutions than more and…

The economy around the world is showing signs of improvement, but for many small and medium-sized businesses, the going is still tough. Many are going out of business or filing for bankruptcy, while others are looking for any way possible to streamline their operations and save precious money.

One of the solutions than more and more new or established businesses are turning to the serviced office. This all-in-one solution takes the guesswork out of finding, setting up, and maintaining your business space. With one monthly fee you get furniture, computers and office equipment, internet access, maintenance, electricity, and more. The price may seem a little steep when you research the different serviced office options, but when you add up the cost of all of these things purchased separately and paid monthly, the savings can be quite amazing.

Another benefit to going with a serviced office is that there is only one bill to pay every month. This can cut down on bookkeeping costs, and one of your employees could be doing something productive instead of spending the time to go through and pay twenty or more bills.

Another important advantage of a serviced office is the image it ports to your customers. If you are a new company, or one that is on a tight budget, then finding a place to do business in a good location will be next to impossible. Almost all the serviced office options are in quality buildings in excellent locations, ready for you to move in. A cramped, messy space in the bad part of town can give your customers a really bad first impression, but a neat, well maintained one can be a deal breaker. Plus, instead of taking weeks to move in, this option only requires a couple of days to set up, so there is no down time at all.

There are other things available through various packages that can also save you time and money. A full administrative staff, or just a receptionist, is available at most locations for a small fee. If you have customers come to your serviced office on a regular basis catering is also an option if you do not want to deal with the hassle. Most of the serviced office options also offer the ability to expand without moving your office, as well as no long-term lease. This is perfect for the business that is using the space as a go-between as they set up their new headquarters in another location.

The convenience and ease of use of a serviced office can not be overlooked. The time and money saved, as well as the peace of mind that knows that everything is taken care of for you, is making this option more and more popular for businesses that want stop worry about the small things and instead want to work on growing and expanding. With money being as tight as it is right now, there is no reason not to look into this option in your effort to save as much time and money as possible.

Benefits of Renting a Serviced Office

For a company or business to grow and prosper, there are a lot of factors to consider. Businesses and companies require manpower, materials and equipment, and an office. However, managing the business is the primary concern of companies. With this, companies want to have a fast and easy way of looking for a convenient location…

For a company or business to grow and prosper, there are a lot of factors to consider. Businesses and companies require manpower, materials and equipment, and an office. However, managing the business is the primary concern of companies. With this, companies want to have a fast and easy way of looking for a convenient location or office space.

Today, more and more companies choose to rent a serviced office due to a lot of benefits it can offer.

Affordable Cost – This is definitely one of the greatest benefits of rented serviced offices. Traditional offices are more expensive because you still have to prepare them before you can use them. Preparing includes buying office equipment and installing internet connection. However, when you opt for a service office, you can save yourself from all those tiring preparation. Also, these offices are easy on the budget. Indeed, service offices can cost you less.

Immediate Availability – When you are just starting your own business, you will certainly want a hassle-free way of looking for an office. Good thing serviced offices can come to the rescue. This way, you do not need to spend a lot of time just to have an office where your business can reach its potential growth.

Flexible Contracts – Hassle-free contracts can be considered as one of the best advantages of rented serviced offices. In addition, companies which provide this type of services can allow you to rent an office for as short as one month.

Convenient Address and Location – The good thing about this type of office is its convenient location and address. With this, it would be easier for your clients to reach you. Having an accessible location offers convenience and ease to all your clients.

Readily Available Facilities – When you are planning to put up an office, one of the things you need to prepare for the office tables, chairs, cabinets, and other related facilities. However, when you choose to rent serviced offices, you will have a fully equipped office. You can avail packages that are inclusive of insurance, electricity, internet connection, water, air-conditioning, and even office maintenance.

Ease of Administration – Choosing to rent a serviced office gives you ease when it comes to managing your business. You only need to focus your attention in managing your own business.

Business Growth – Every business wants to grow and prosper. Opting for this type of office allows your business to reach its full potential because of the list of benefits you can have.

A Great Solution For Every Business

Whether it is for a business expansion or a start of a new business, renting this type of office is a great solution for every business. The flexibility and convenience a serviced office can offer pave ways for every company to grow.

If you are looking for a reliable serviced office provider, there are a lot of choices online. This way, it will be a lot easier for you to find the answers to your needs. Plus you can also check their rates and other services online.

The Advantages of Fully Furnished Serviced Offices

Serviced offices are becoming increasingly popular. These fully furnished dwellings are economical and convenient. They offer a wide array of amenities. Such conveniences allow business owners to focus solely on business priorities. They eliminate the worry of normal office stress. Below is some information on the concept which you may find interesting. What is a…

Serviced offices are becoming increasingly popular. These fully furnished dwellings are economical and convenient. They offer a wide array of amenities. Such conveniences allow business owners to focus solely on business priorities. They eliminate the worry of normal office stress. Below is some information on the concept which you may find interesting.

What is a serviced office?

Serviced offices are offered by a third party company. The business owner pays rent for a space. In return the rental company provides an assortment of services. The business will be provided with a beautiful office. Most of these offices come fully furnished. They are even complete with contemporary artwork on the walls. As well, a fully trained receptionist will be available to answer all calls, greet clients, and handle general secretarial needs. Some rental companies even provide a staff team of administrative assistants. These individuals are fully trained and ready to aid in office projects.

Amenities are offered in different packages. The business may choose any extra services which are needed. Some of the packages will include internet service, 24 hour answering service, and global communications network among others.

Are serviced offices expensive?

No. The initial cost may seem pricey. However, when one considers the fact that all services are included the cost is relatively low. These offices do not cost any more than paying for the individual services which are included in packages. In fact, the cost is less than paying for each service from different providers.

Keep in mind that you will receive many extra benefits. These extras include office cleaning, window cleaning, general building maintenance, and 24 hour security. The cost of these services would really add up if paid for separately.

Are meeting rooms available?

Yes. Most serviced rental companies offer access to meeting rooms. The spaces may be booked in hourly time slots. Often, there is no extra cost for the use of these rooms. Some rental services even provide tea or refreshments to clients. The goal is to make your business endeavors as easy as possible.

IT Support

IT support is often included in the rental of a serviced office. This means no more worrying about failed systems or crazy IT mishaps. You will be protected with full technical support. This alone adds relief and peace of mind to most business owners.

Short term leases

Rental companies often do not require lengthy leases for serviced apartments. This is a positive benefit for most business owners. Traditional office leases sometimes call for ten or even 15 year lease agreement. This is a long commitment. Should you decide to move your business you will not have to be concerned with the expense of breaking a lease?

Serviced offices are a wonderful solution to office aggravations. This arrangement is convenient and will provide your business with state of the art equipment, advanced technology, and a beautiful location for little cost. If you are in need of an office space you should consider this arrangement. You will be well satisfied with the choice. You're new serviced office will satisfy all offices needs and allow you to focus on business.

Option To Rent Office Space: The Trend in 2012?

Owning a business takes on a lot of responsibilities, like making major decisions on whether to buy or rent office space. Such decision would depend on several factors like: the amount of cash involved, prospective business growth, rate of land appreciation, and the tax angle. Buying a property for business could entail much cash outlay…

Owning a business takes on a lot of responsibilities, like making major decisions on whether to buy or rent office space. Such decision would depend on several factors like: the amount of cash involved, prospective business growth, rate of land appreciation, and the tax angle.

Buying a property for business could entail much cash outlay that the option to rent becomes one attractive proposition for businessmen. The cash upfront needed for deposit in buy-outs, can be around 10 to 20 times higher than rental fees. For a new and upstart business, such huge investment, all paid for in cash, could have crippling effects in operations. Monies that should have been used for overhead are now funneled to fund long term investment in land and building. Capital will then be tied up to these investments, theby creating a tightened effect on the company's financial resources. Here, we now see a preponderance of businesses opting to go into rent office space situations instead.

Choosing an office space can be of paramount importance to the decision-maker who would want to increase the company's visibility to targeted markets. Choosing an area then, where there is enough foot traffic, near commuter transport, and within striking distance of prospective clientele base is a necessity. The neighborhood is also of prime consideration. When a business sells high-end products, they should also consider putting up their place of business at high-end neighborhoods.

What then are the important factors to consider in a rent office space alternative:

1. First, would be the location. As mentioned, this would ensure that potential clients can get to you easily. It should be ideally located in a place that can easily be found even via local transportation. This would avoid unnecessary travel time for your clients so enabling them to easily see you, before they start thinking of looking at your competitors.

2. Second, would be the general feel of the building. Try to see if the building does not show cracks or structural defects that would pose a problem later on. Basic amenities like elevators, stairways, electrical system, lighting fixtures and water sprinkling system should be properly installed and working.

3. Third, would be the neighborhood. Knowing ones' market would determine the situus of the place of business. This would ensure that clients would not have reservations in going into the place of business to transact deals or close business negotiations.

4. Fourth, would be the cost consideration and the legalities involved. This would depend on the amount being charged on a per square foot basis. This amount is dependent on the amenities of the office space like the general feel or professional ambiance, the adequacy of the reception area and kitchen / bathroom facilities. The cost inquiries would also cover monthly overhead dues on utilities, common area cost like lighting in hallways, and payment for reception and security personnel. Inquiries should also be made regarding tiered payment structures that allow lower monthly payment on the initial year and higher monthly payments in the succeeding years. Other legal intricacies like possible late payments, and the penalties and interest charges that may go with it should also be explored and discussed thoroughly.

Despite the much lower rate for the rent office space option, there still exist another alternative, which is the virtual office. This allows a businessman to do his business in the comfort of his home but with a professional existence by having a virtual office elsewhere. The cost is a fraction of what he will normally pay for an office space. All the intricacies of business are taken care of by virtual assistants, voice mail, and answering call service in a virtual office located in a prime business district of his choice. The users of virtual offices are a cross section of the business world: home-based entrepreneurs, accountants, law firms, sales people, mediators and many others.

The option for people to go into business is limitless. The choice to opt for a cost-friendly rent office space option is likewise, limitless.