Carol Ruffu Email & Phone Number

Atlantic City, Nj, Us

Southern New Jersey

Getting ready to enter the commercial real estate market? If you are looking to rent or buy space for your small business.10 of the most common terms you should acquaint yourself with.1.RE Broker –State-licensed agents with expertise in the leasing process. A good broker will not only help you find a space, but also help you in all aspects of the lease transaction. 2.Common Area Maintenance (CAM) – This is the amount of additional rent charged to the tenant to maintain the common areas of the property shared by tenants. 3.Usable Square Footage – This is the square footage rented and used exclusively by the tenant. It includes footage for private rest rooms, storage, and any other areas used only by the tenant. 4.Escalation Clause – A clause in a lease which allows the landlord to increase rent in the future to reflect changes in expenses paid by the landlord, such as real estate taxes, operating costs, etc. 5.Tenant Improvements –Defines any improvements to the leased space either by, or for, a tenant. If you expect to make lots of improvements to space, it’s worth negotiating these with your landlord & trying to get as much of these costs covered as you can. 6.Full Service Rent – This refers to “all-inclusive” rent that includes operating expenses and real estate taxes for the first year. 7.Gross Lease – A type of lease in which the tenant pays a flat sum for rent, covering all landlord-paid expenses, including taxes, insurance, maintenance, utilities, etc. 8.Net Lease – With a net lease, you will pay for other building operating costs such as property taxes, insurance, repairs, utilities, etc. in addition to your rent. 9.Non-Compete Clause – This clause prevents the landlord from leasing any other premises on the development to a direct competitor of yours or another tenant operating the same type of business. 10.Letter Of Intent: This is an informal & preliminary agreement between tenant & landlord indicating intent to move forward with negotiations.

Southern New Jersey

Tips for Negotiating a Commercial Property Lease without Getting Burned While starting and growing a business can be challenging, one area in which the market is currently working in the business owners’ favor is in the glut of available commercial real estate.So you’ve found your perfect location, now what? Here are some tips for leasing a space for your small business.Setting the Term of your LeaseThe term and rent that you will pay is your first negotiation point. The trick here is not to over-commit while giving yourself some flexibility for the long term. Remember to be prepared for push-back, a landlord is much more likely to favor locking you in for the long-term if they can by sweetening the deal. What about Expenses?As with residential leases, commercial real estate landlords often tag on extras such as maintenance fees, upkeep for shared facilities (Common Area Maintenance or CAM), and so onWho Handles Maintenance and Repair?While residential leasing often places the burden of maintenance and upkeep on the shoulders of the landlord, commercial leases are different.Read the LeaseSo it goes without saying, read over your lease in detail and hire an attorney who specializes in commercial real estate to go through the clauses and fine print.Consider Building in Clauses to Protect your BusinessTo protect your investment and long term business interests, it’s worth investigating and negotiating some potential add-on clauses to your lease. These might include:• Sublease • Exclusivity clause • Co-tenancy What if You Default?Businesses get closed down without prior notice all the time because they defaulted on their lease. Protect your interests and your customers by knowing what you are agreeing to upfront.

Southern New Jersey

Commercial loans and commercial mortgage rates can be tricky. My commercial mortgage portal allows you to apply to commercial real estate lenders in just minutes. We simply input your commercial loan request. We will then screen out all of the unsuitable lenders and provide you with a list of banks which are perfect for your particular commercial real estate loan request. We can then call these banks, life companies, conduits, REIT’s or hard money lenders directly or submit your commercial loan request electronically.With a core focus on commercial mortgage loans, a diverse product mix, an innovative online commercial lending platform, and a staff of seasoned, experienced professionals, We can provide a low cost, single source solution for commercial property loans.Mixed Use & CommercialMulti FamilySBA & USDABridge, Construction/Rehab & Ground-Up