Even when rental properties are at a premium in a certain locale such as Orange County, a prospective tenant may be willing to go elsewhere in order to find the right property with the right lease terms. This could be because a landlord failed to offer the appropriate incentives to attract the desired tenant. It may be necessary to give something in order to get a lease signed.
When it comes to renting commercial property, owners have numerous lease options. When determining the best option, an Orange County landlord might consider a NNN lease, also called a triple-net lease. However, some analysis is in order to make sure it turns out to be the best choice under the circumstances.
Plenty of rental property owners here in California have ended up not receiving the monies promised in leases. In fact, some landlords end up discovering that a tenant broke the lease and moved out in the middle of night. For these reasons, many of them now require prospective tenants to sign personal guarantees, which make them personally liable for the rental payments outlined in their leases. A commercial tenant essentially ends up paying for the bad acts of those who came before them.
It is possible retail property owners here in California and elsewhere are already used to providing more for their prospective renters these days. Now, it appears that those who own office buildings may need to step up their game as well in order to attract tenants. These days, a commercial tenant expects more amenities when renting office space.
Not all rental relationships work out as intended. In a perfect world, each party will fulfill his or her obligations under the lease, but that does not always happen. When an Orange County commercial tenant believes that a landlord has breached the lease, gaining an understanding of the legal options available becomes a priority.
Renting space in shopping centers can be a lucrative business. Part of the rental process is passing on common area maintenance costs. An Orange County entrepreneur looking to become a landlord to retail establishments and restaurants needs to understand what CAMs entail and know how to handle them so as not to make things overly complicated.
When looking for a space in which to operate a business, a California entrepreneur expects property owners to check him or her out. Background checks that include criminal, rental and financial histories are fairly commonplace these days. What a commercial tenant may not realize is that he or she can also check out the landlord to make sure that renting from a particular property owner would be a good fit.
Orange County property owners choose certain locations in order to maximize their investments. After making sure that a particular property is attractive to potential tenants, a future landlord needs to protect it. This means obtaining the proper insurance coverage.
Property owners and developers here in Orange County could find themselves hunting for renters at times. During these times, landlords could need to "sweeten the pot" in order to keep their properties full. This often means making concessions to a prospective commercial tenant.
Like many other states, California views matters differently when it comes to renting property to an individual as opposed to a business. Individuals are given certain protections that a commercial tenant would not receive. Before renting a commercial property, it would be a good idea to understand some of the differences, especially if a new venture is just entering into this rental market.