Residential Landlords - what you should know

The problem is not only vacancies, but struggling tenants that are slow paying or unable to pay their current lease rates.

As unemployment increases this trend will increase. Business are laying off staff at alarming rates. High unemployment will be with us for a quite a while unfortunately.  

If you lose a good tenant because you are unwilling to negotiate their lease, in light of the current unemployment trends you may find that to replace that tenant was not necessarily the best solution as the next tenant could just as easily become the next struggling tenant. 

Then there is the time and expense of getting the space ready for the next tenant, the period of time that the space sits empty with no rental revenue, the time and expense of advertising and showing the space and the hassle of it all. 

It is therefore in your best interest as well to modify a lease and retain a good tenant through a temporary period of hardship!  We provide factual local market data that demonstrates the current fair market rates and we facilitate negotiations which help struggling tenants stay in their existing space and helps landlords prevent costly turnover and potentially prolonged vacancies. 

If you are struggling with reduced NOI due to vacancies and slow pays, if you are concerned about plummeting property values and what you are paying on your commercial mortgage we can help you secure a Commercial Mortgage Modification.