Field Guide to Commercial Property Management
(Updated August 2007)
Whether you are new to commercial property management or have been at it awhile, you're sure to find useful information concerning leases, safety & security, marketing, and maintenance for commercial properties. You'll have access to full-text articles, and book suggestions from the NAR library. (D. Shumaker, Information Specialist)
Contents:
Leases | Safety & Security | Marketing | Maintenance | Links | Books, eBooks & Other Resources
What to Remember When Leasing from the Government
Tax escalations after the first year are paid in a lump sum. However, claims must be submitted by the lessor within 60 days of the tax payment date. If the deadline is missed, the lessor forfeits the entire escalation.
When the GSA wants to make alterations to space it leases, it sometimes asks lessors to sign a "waiver of restoration" saying that the GSA does not need to restore the space to the condition it was in before. Failure to sign this waiver, however, does not mean that the GSA will not make changes to its space, only that it might be possible to force the GSA to make everything the way it was. With government leases often running 10 - 20 years, accurate record keeping and a good corporate memory are vital.
The Contract Disputes Act clause outlines the procedures to follow if owners have a disagreement with the government that they can't resolve in negotiations. The "final decision" of the government's contract officer is anything but - lessors can still appeal to the GSA's Board of Contract Appeals.
Source: Avoid traps in government leases, (National Real Estate Investor, Feb. 2005). Q
Leases
Retail commercial leasing nuts and bolts: protect against use and exclusive conflicts, (Real Estate Finance, June 2007). Q
Sale-Leaseback: the next frontier, (National Real Estate Investor, Feb. 2006). Q
Leases with active military personnel: Termination and eviction implications, (Real Estate Finance, June 2005). Q
Commercial leases: A few points to ponder, (Real Estate Finance, Feb. 2005). Q
Making 'sick' malls better; Specialists advise landlords on redesigns; Ejecting stores; Step one: Fix the food, (Wall Street Journal, Jan. 21, 2004). Q
Protective lease provisions, (Journal of Property Management, Sept./Oct. 2003). Q
Automating the lease flow, (Journal of Property Management, Sept./Oct. 2003). Q
Great sale-leaseback opportunities abound, (Realty Times., Mar. 12, 2003).
Commercial leases require more than rent, (Realty Times., Mar. 12, 2003).
Landlords: is the security deposit from your tenant really secure?, (Business Credit, Mar. 2003). Q
Future tense, (Journal of Property Management, Jan./Feb. 2003). Q
Adapting commercial leases to a world of change, (Journal of Property Management, May/June 2000). Q
Interest in Post 9/11 Security Technology Diminishes, (National Real Estate Investor, Aug. 14, 2007).
In Commercial Facilities, It's Balance That Counts, (Security, June 2007). Q
Insurance catastrophe, (Journal of Property Management, Nov/Dec. 2006). Q
Office building security is getting quite smart, (National Real Estate Investor, Mar. 2006). Q
both Safe and Sorry?, (Planning, June 2005). Q
Maximum securITY, (Journal of Property Management, May/June 2004). Q
Mitigate the urge to litigate, (Lodging Hospitality, Feb. 2004). Q
Checks and balances, (Buildings, Mar. 2003). Q
What's your disaster plan?, (National Real Estate Investor, Aug. 2002). Q
Security + service = satisfaction, (Journal of Property Management, May/June 2000). Q
A blueprint to enhance building security, (National Real Estate Investor, Mar. 2000). Q
Marketing
Making (and keeping) tenants happy, (Buildings, March 2006). Q
Survey says..., (Buildings, Jan. 2004). Q
Service with a style, (Journal of Property Management, July/Aug. 2002). Q
Anatomy of a web site, (Journal of Property Management, Mar./Apr. 2002). Q
Adopting sensible solutions for an eco-friendly environment, (Journal of Property Management, July/Aug. 2001). Q
Pushing buttons: marketing ideas that work, (Journal of Property Management, July/Aug. 2000). Q
Maintenance
Airing Out Concerns, (Journal of Property Management, Jan. 2007). Q
Greening the Carpet-Cleaning Process, (Buildings, Jan. 2007). Q
It Pays to be Green, (National Real Estate Investor, July 2005). Q
Mold on hold, (National Real Estate Investor, Mar. 2003). Q
Flower Power, (Journal of Property Management, July/Aug. 2002). Q
Lighting the way: to increased energy efficiency, (Journal of Property Management, May/June 2001). Q
Links
Building Owners and Managers Association (BOMA) International. A primary source of information on office building development, leasing, building operating costs, energy consumption patters, local and national building codes, legislation, occupancy statistics and technological developments.
IREM: Institute of Real Estate Management. The only professional real estate management association serving both the multi-family and commercial real estate sectors. IREM is an international organization that serves as an advocate on issues affecting the real estate management industry.
SIOR: Society of Industrial and Office Realtors®. The leading professional commercial and industrial real estate association with more than 3,200 members in 20 countries. SIOR represents today’s most knowledgeable, experienced, and successful commercial real estate brokerage specialists.
eBooks & Other Resources
eBooks.realtor.org
The following ebooks and digital audiobooks are available to NAR members:
Commercial Real Estate Investing (Adobe eReader)
The Economics of Commercial Property Markets (Adobe eReader)
The Complete Guide to Real Estate Finance for Investment Properties: How to Analyze any Single-Family, Multifamily, or Commercial Property (Adobe eReader)
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
Managing and leasing commercial properties, (New York: John Wiley & Sons, 2007). HD 1394 AL2ma
Principles of real estate management, (Chicago: Institute of Real Estate Management, 2006). HD 1394 In7rm
Risk management in the post 9/11 world, (Chicago: Institute of Real Estate Management, 2004). HV 6431 In7r
Office building management, (Chicago: Institute of Real Estate Management, 2002). HD 1394 I2
Managing and leasing commercial properties: practice, strategies and forms, 2nd ed., (New York: Aspen Law & Business, 1999). HD 1394 AL1f
Spotlight on security for real estate managers, (Chicago: Institute of Real Estate Management, 1997). HD 1394 In7o
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