I’m predicting the commercial tenancy market is about to become a bloody battlefield as times get really tough for investors and landlords managing commercial property portfolios.
There are five key factors that will cause this warring between landlords.
You’ve heard the phrase “stating the obvious”. But when it comes to lease agreements it is interesting to consider how often we haven’t done just that; state the obvious.
The reason I mention this is that ambiguity in lease documents is the greatest cause of disputes between tenant and landlord. And sometimes (more…)
Desperation is biting in the commercial real estate industry.
There are very few commercial tenants looking for space right now, and many agents that specialise in commercial leases are consequently struggling.
With tough times come dirty tricks.
One ploy that is on the rise is where a (more…)
I’ve been working with a few clients in the retail sector in main centres of both North and South Islands in the past few weeks and it’s given me a new feel for the trends and issues retailers are facing.
I’ve been posting this blog for well over a year now, and I’d like to think we give readers a good heads-up on trends in the property lease market, as well as some insights into how the market works behind the scenes.
So it was interesting for me this week to take some of this expertise into the mainstream news media as a commentator on TVNZ’s business programme: NZI Business June 5: Renters’ market for office space
To steal a line from the well-known telco ad, now is good for having a close look at reviewing commercial leases across New Zealand. There are a number of reasons why now is good.
Firstly, I think it’s time we moved on from a wait and see attitude about the markets and international economic conditions.
Secondly, there are very few new leases being drawn up at the moment. Many new building projects are on hold, and the majority of Parallel Direction’s work with tenants right now is getting better outcomes on renewals and rent reviews. (more…)
Subleasing or assigning space in commercial property is an area of great interest to commercial tenants right now.
More and more commercial tenants are finding they would like to sublease or assign space that has become surplus to their requirements. (more…)
The ratchet clause has long been a dirty word to businesses with commercial tenancies.
More than 95 percent of leases have a ratchet clause. Traditionally they never advantage the tenant. (more…)
When it comes to financial matters, most of us like to keep the detail close to our chests.
It’s often considered foolhardy to (more…)
