Common Area Maintenance. What is it? By description, it refers to one of the three primary components of the operating expenses, alongside property taxes and insurance taxes. It is included in the so-called Triple Net Lease. These fees are collected by landlords from tenants in order to cover the expenses that are usually associated with operating and overhead operations for common areas.

These common areas refer to the spaces that are used by all tenants, including elevators, hallways, lobbies, parking lots, building security, and public bathrooms, among others. These CAM fees are typically stated in the lease in order to clear up any potential misunderstanding and to have a better insight about these expenses before a tenant signs up for a new…

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After you and your real estate broker have compiled a list of several properties that meet your basic needs, you will want to gather more information about the landlords and buildings you are considering for your office or retail shop location. You will, of course, want to physically tour the premises after having obtained background information and history of the landlord.

Speaking in person to other tenants on the property is an important part of the screening process to determine satisfaction with the landlord’s performance regarding the following issues:

Is the landlord responsive to tenant concerns?
Are repairs to the premises done in a timely manner?
Is the building or shopping center well maintained?
Is the landlord accessible when needed?
Do…

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For an entrepreneur running a business, a time may come when you will have to make the decision whether to buy or lease commercial property or space.

It’s easy to plan for a car, vacation or education. But deciding which property type best suits your needs can present many challenges.

Here are some pros and cons for both buying and leasing a commercial property or space to help you make that choice.

1. The Pros of Buying

Extra Income: Ownership allows you to rent out unused space. The rental revenue can be reinvested in the business or help pay the mortgage.

Tax Advantages: The associated costs of owning and operating commercial property allows you to claim tax deductions. This includes interest on mortgage and property taxes.

Control:…

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