Leasing commercial space is often a major expense for any business. Between the rent, the cost of maintenance and utilities, and the need to staff the business, there is typically a lot at stake when a business opens its doors.
What's happening in commercial leasing? The online property marketplace firm Ten-X has done some deep research into the commercial real estate market from both a national and a local perspective, and its findings are interesting. First, perhaps, is this: Ten-X states that a marked division exists across the country regarding what is going on in the office sector versus apartment leasing, respectively.
Florida commercial leases trip up many a landlord and many a business tenant. Here's an important point regarding one of many stark differences between a residential and a commercial lease: Commercial lease tenants are accorded fewer consumer protections if things go wrong down the road.
When you rent commercial space, whether it be for retail, industrial or other purposes, you will need to sign a lease that holds both you and your landlord responsible for certain things. Two of the most important matters that will be addressed in a proper lease are the price and the obligations of the landlord.
Up until the End of 2014, legitimate tenants were protected by Federal law if their landlord was in foreclosure and the house was sold at the foreclosure sale (often without the tenant's knowledge). This law was called the "Protecting Tenants at Foreclosure Act of 2009." Unfortunately, it expired December 31, 2014. Recognizing that this situation remains a problem for hard working Florida citizens who rent a house or condo from owners in foreclosure, the Florida Legislature passed a law, effective June 1, 2015, which provides similar protections to tenants. The statute is short and to the point, you can read it at: