Minding Business

5 Things You Need to Know About Personal Guarantee Structures

Personal Guaranties are Common in Construction
Posted by Anna Jotham on December 12, 2019 in No Category
Personal guarantees are common in the construction industry, especially among smaller businesses that need to provide and extra level of protection to companies extending credit to them. In the event that the business defaults on a debt, the guarantor — typically the owner of the business or whoever signed for the credit — would satisfy the debt with their personal assets. For many smaller business owners, it offers an opportunity to tap capital you might not otherwise have access to, and as a result gr... read more
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Zoning on your mind?

Understanding whether rezoning, CUP or a variance will work best for you.
Posted by Anna Jotham on October 29, 2019 in No Category
When buying a commercial property, it’s important to know the best way to bring that property into compliance with local zoning ordinances. But how can you know which application you should make? There are so many options, each with its own set of particular considerations, and there’s a lot riding on the decision. After all, you want to be able to use the property in the way you intend. So which application is right for you: conditional use permit (CUP), rezoning or maybe a variance? Let’s examin... read more
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How Long Should My Commercial Space Lease Term Be?

When signing a commercial lease, it’s important to consider the lease length.
Posted by Anna Jotham on October 03, 2019 in No Category
When you’re ready to lease commercial space, and you find exactly what you’ve wished for, you may want to hurry to sign on the dotted line. But not so fast! Before you get out the pen, you’ll want to carefully consider the length of the lease term. After all, signing a lease is a major commitment, so you want to make sure your interests are protected. Get locked into a lengthy lease term, and you could be stuck in a space that doesn’t grow to meet your business needs. Too short, and you may ... read more
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Guide to Raising Rents on Your Commercial Property

As a landlord, raising rents can be stressful; these tips will help
Posted by Anna Jotham on September 05, 2019 in No Category
As a landlord, knowing whether or when to raise rents for your tenants can be confounding. You want to remain competitive and retain good tenants. Chances are, you also would like to maximize ROI and perhaps reduce turnover (which, frankly, eats up a lot of valuable time). With so many seemingly opposing objectives, it can seem challenging to determine what steps to take when it’s time to renegotiate a tenant’s lease. It’s time to take a step back, and get the full picture of your property rental ... read more
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Commercial Real Estate Sale and Purchase Agreements: A Primer

Understanding provisions in CRE purchase agreement is essential for all parties.
Posted by Anna Jotham on August 07, 2019 in No Category
When it comes to contracts for commercial real estate, there is no one size fits all. In fact, everything is up for negotiation. And contracts can be any length and go into any level of detail, not to mention have any number of revisions, so it’s vital that both the seller and buyer of commercial real estate understand the terms and provisions included in that contract. Of course, the purpose of a CRE purchase and sale agreement is multi-fold. It details the property specs, defines stakeholder rights and resp... read more
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