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Does Option-to-Renew clause in retail lease require landlord agreement?
Yup, if the lease agreement says you have the option to renew, it's yours. Just be mindful of the default deal-breaker, and make sure you follow the notice provisions to the letter - if it says you have to have your notice to the landlord of your decision to exercise your option at 4:00 PM 60 days prior to the expiration of your existing term, COUNT THE DAYS. Not every month has 30, so you can't think of it as 2 months, if it says 60 days and your lease expires 2/28/17, that means your notice is due by 12/30, not 12/31, and if they want to, they can yank your option based on that one day - or one minute.Good luck!K
How hard is it to find and rent out a house using a lease option?
Lease option arrangements are like hen's teeth in a "seller's market" and all too common in a "buyer's market." Currently, most of the US  and plenty of places around the globe are in a seller's market.However, there can be micro buyer's and seller's market based on local and regional economic conditions. Southern California Quakes chronicles the aerospace downturn in the early 1990's when the rest of the country was reasonably normal: Two years after the end of the Cold War, Southern California`s  perennially prosperous economy is reeling from a New England-style free fall, with few signs that the region`s steepest plunge since the Great  Depression will be reanytime soon.Engorging itself on unprecedented defense contracts and an explosive real estate and financial boom during the go-go years of Ronald Reagan`s military buildup, California had it made in the shade relative to the rest of the  country during the 1980s.Now the economy here is being dragged  down by defense spending cutbacks, a collapsed commercial real estate market, plummeting home prices, a crippled construction industry and a  series of disasters, natural and man-made, that have shaken investor confidence. "We are on the wrong end of three major events in the U.S. economy: aerospace  industry cutbacks, the commercial real estate collapse and significant  price declines in housing prices," said Ross Starr, professor of  economics at the University of California at San Diego. "And unlike  anywhere else, we`re getting all three at the same time."Net-net: Seek a lease option in buyer's market conditions or just wait it out.
What is a "term sheet" relative to a commercial lease renewal?
Where I practice a term sheet is a Letter Of Intent, it's non binding and is used by the commercial realtor to help his client to negotiate the terms/conditions of the formal lease. Think of it as a skeleton, together they figure out the need that suit the tenant, and work with the landlord and his agent to make a meeting of the minds. If they can do this at this stage the negotiations will be about what the term sheet has generally outlined.
How can a landlord rent out my apartment (the lease ends July 30, 2022. to someone else without contacting me to renew first?
Look over your lease carefully. IF he is obligated to ask you if you want to extend your lease, the language will clearly state that. You can also read up on your state’s landlord tenant laws. It MAY state that either party has to give notice within a set period of time like 30 days prior to the expiration of the lease. If it does not, double check with your states laws.It is not obligatory, regardless, for a landlord to extend your lease. There may be a reason he wants you out rather than extending that invitation.
Do I need to be in the US to fill out an L2 EAD renewal?
I have a valid I-94 which is due to expire in May 2022 , i have been in US last September 2022 and applied for L2 EAD and got it in December 2022. but it as a validity of only 3 month , so i need to apply for renewal. But right now i am in my home country and my spouse in US , I want to know if my spouse can apply for renewal of L2 EAD with my old I-94. My spouse L1 I-94 is valid till December 2020?
What are your options if your landlord tells you one week before my one year lease ends that he won't let you renew can you stay longer to prepare to move out?
Read your lease. Some options to renew have different timelines than evictions.Read the local tenant act.Ask yourself why he might not want you as a tenant any longer. It might be as simple as he has lined up another tenant and knowing your lease expires, your unit will soon be available.Normally a tenant has thirty days notice to vacate - but this is not what is happening - not quite.You signed a lease for one year. Many tenants start looking elsewhere as their lease comes close to expiration. Some leases require that you give your landlord notice of your intention to renew and failure to do so is construed as an intent to leave.Talk to your landlord and ask him how long you have to move. Ask him if you could stay a couple of months as a month to month, or must you be gone by the end of this month? If you need to be gone quickly and know you are a good tenant - ask for his help in securing another place.As long as you are reasonable, he will probably be willing to work with you a bit. If you start being confrontational, you will be out very soon with no help from him and a stain on your reputation as a tenant that you will have to explain.
How do most tenants find commercial property to lease?
Having spent a decade in the CRE business before launching a startup dedicated to solving that very problem…I’ll tackle this one in a few ways.The commenters here are right, the vast majority of search for real estate space is done online and that is only increasing. Tenants, like most consumers, are going to seek access to resources in a more immediate fashion. The old-school, drive around, see signs and call is slowly being replaced by look around online, learn and then curate/connect.Brokers as a whole are vastly outnumbered by the small business community in the United States. At last count there were roughly 350,000 Full time CRE brokers in the US, while there are over 30M small businesses occupying close to 30B S.F. of space. Its simple math, there are not enough brokers and Tenant’s as a whole are vastly underserved.Existing “solutions” i.e. Loopnet and Commsearch and others are really not resources for Tenant’s, they are expensive, effectively digital signs, with little to now information, often outdated that prompts user to call. This leads to very unqualified and often mismatched businesses calling brokers or owners for lease, very inefficient. These services are wholly reliant on brokers to keep them updated, and I can tell you from experience the information on a space-by-space basis is too hard to keep up with. So the data stays bad. As to Costar, it's far too expensive for a Tenant and unwieldy for a decision that is longer term. It’s necessary for the top brokers for research and analysis however. This has recently been consternated by the increase in “listing” fees and lawsuit heavy major players constantly in battle. Brokers are paying more, providing less information and growing frustrated. Who loses most? The Tenants!So what did we build at Tenavox? Simple, a 100% free platform with educational resources, accurate pricing, ratings and recommendations on thousands of buildings that we maintain. We operate like a dating site, matching real-time need with real-time want. This leads to Tenants only seeing buildings they want to see and brokers only dealing with qualified prospects. Since we don’t ask brokers to model space, just their “wants” they can update a building in less than 60 seconds. SO information is accurate and quality is prized over quantity. Just like the business really works.Our goal is to get the information into the business decision maker head so they can make an informed, satisfied decision. Just like we do on everything from vitamins, hotels, to cars and houses. We found it silly that a decision this big was so opaque.As for Tenant reps, we manually qualify, vet and connect them with the Tenants who ask us for a representative…pull, not push. Only upon request and with the Tenant’s needs do we offer them these highly rated reps, to ensure a quality of service for our users. So we connect them with the resources that they need, soon we will expand this to attorneys, movers, telecom, contractors, architects, furniture and more all useful to our community by virtue of being helpful to Tenant’s.Neat.We’re built for Tenants to find space, learn and connect with the resources and information they need. By virtue of that we pra more efficient, stronger connection to the owners and leasing agents that ultimately serve and house these businesses. Check us out at where Tenants have a voice
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