Structuring & Negotiating Commercial Leases

These are details to Structuring & Negotiating Commercial Leases.

Topics covered include:
- Other parties involved: Guarantor, Lender, Title insurance company, Attorney
- Understanding the details of your business plans determines the lease
- Long term implications of your agreements
- The relationship with the landlord: advantages & disadvantages
- Premises, Expansions, & appurtenant rights
- Negotiating the expenses: rent, operating expenses, real estate taxes and percentage rent
- Maintenance obligations
- Avoiding double-counting: increases in basic rent and contributions toward the landlords operating expenses

Samples of the types of questions answered in the Video Leadership Seminar include:
- Beside the landlord and the tenant, what other parties may be involved in the lease?
- What are the most important business considerations for the tenant to keep in mind as it enters the lease negotiations?
- How can the lease negotiations be made most efficient and mostly likely to succeed?
- Which terms have the greatest liability exposure for the companies signing the lease?
- What calculations are used to assess financial terms of the lease? What results indicate a term should be avoided?
- What strategies and tactics are proven successful for each key area of the lease?

For more information please email me

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Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

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New Landlord and Tenant Rules in Ontario as of February 2007

New Residential Tenancy Rules Take Effect in Ontario

February 2, 2007 -- New rules regulating residential tenancies took effect on January 31, 2007. The new rules are a result of a provincial government initiative that began almost two years ago with consultations that included input from TREB.

TREB Input Achieved Results

When the provincial government began consultations on making changes to residential tenancy rules, one of the most significant changes proposed was with regard to rent control. The proposal considered eliminating the current system of vacancy de-control, which allows landlords to negotiate rent freely with a prospective tenant when dealing with a vacant unit. Once the tenant has agreed to a rent, they are then protected by the annual rent increase guideline, set by the provincial government, which stipulates how much the rent can be increased each year.

Given the high vacancy rates in recent years, TREB, and other groups, told the provincial government that the system of vacancy de-control was working, as intended, to improve availability and standards of rental accommodation. As a result of this input, the provincial government decided to maintain vacancy de-control.

New Rules

The new Residential Tenancies Act, which is now in effect, makes various changes to rules governing rents and landlord-tenant relationships. Some of the key changes include:

The annual rent increase guideline will be based on the Ontario Consumer Price Index, which will be the rate of inflation for the year running from June to May.
Landlords will be able to inspect rental units for maintenance problems, with 24 hours notice.
Landlords will have more remedies to deal with a tenant if he/she is causing willful and/or excessive damage in a rental unit or building. The new remedies will cut the eviction process approximately in half.
Improvements to processes under the Landlord and Tenant Board (formerly known as the Ontario Rental Housing Tribunal)
Interest paid to tenants on last month’s rent deposit will be the same as the Consumer Price Index

More Information

Complete background information, including highlights of the new Residential Tenancies Act, is available at a special web site established by the provincial government.

Read more about Landlord and Tenant Investment Property Issues

For more information please contact A. Mark Argentino

A. Mark Argentino Associate Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc.
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1

BUS 905-828-3434
FAX 905-828-2829
E-MAIL mark@mississauga4sale.com
Website: Mississauga4Sale.com