Sue McConnachie | Nov 06, 2017
There are a number of reasons that a tenant can become delinquent. Some of these situations cannot be predicted, such as industry conditions that negatively impact the business or growth that is too rapid. However, there are signals of potential delinquency that can be revealed during the initial and renewal application process.
Sue McConnachie | Oct 11, 2017
The current real estate market has brought more people and businesses into the property management sector to take advantage of the up-side of the investment. But like all investments, you need to be prepared and ready to mitigate any risks, liabilities, and consequences.
One of the best ways to mitigate these risks and protect your investment is to ensure you have chosen the best tenant for your listing at the outset, using an in-depth commercial credit report.
This complimentary eBook was created to help you uncover the benefits of in-depth tenant screening in the property management industry, whether you are screening potential tenants, renewing a lease, acquiring rental property, or engaging with a delinquent tenant.
Sue McConnachie | Aug 30, 2017
Purchasing Commercial property can be expensive and risky. Due Diligence typically includes surveys, engineering and environmental reports, zoning compliance and or topographical studies. This due diligence deals with the property itself, but don’t overlook the tenants that occupy the building.
Adding a Quality Credit Acquisition Report to the due diligence process removes the uncertainty from decisions made to analyze the cost benefit of an acquisition. It will help assess the risk as well as the likelihood of the future income stream from the property. Gauging the underlying quality of the existing tenant base is key.
Even if the seller has proof that the tenants have been reliable to date, there are often developing financial issues to consider. It is very important to ensure that the correct, current, full legal names are on the lease. The reports can be produced without the consent or knowledge of the property’s current tenant base.
Before acquiring commercial property, you want to assess risk by looking at the following areas.
Sue McConnachie | Apr 24, 2017
Being a property manager/owner comes with the potential for serious risk, liability and consequences at a time when the scales of justice seem to be tipped in favor of the tenants, even if the tenant is delinquent.
Sue McConnachie | Mar 24, 2017
For most property managers, it takes a lot of time and resources to find the perfect tenant for your commercial space - prepping the property, generating ads, showing the space, reviewing applications and verifying the information you have received. It is no surprise then, that once you have found that right tenant, you are ready to settle in for the long-haul.
But, what do you do when the lease is up and it is time for a renewal?
While many property managers would happily renew a lease, especially if the tenant is well-behaved, pays their rent on time, and causes little to no problems, this may not the best decision.
Sue McConnachie | Mar 07, 2017
Commercial leasing is risky business but ensuring you choose the right tenant, at the offset, can dramatically decrease the risk.
In fact, selecting the right tenant for your commercial rental property can:
Sue McConnachie | Feb 03, 2017
Commercial property management is a risky industry which is why it is so important to take every step possible to mitigate potential risks.
One of the best ways to do this is to review your tenants thoroughly before they sign a lease. Doing so can help you identify:
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