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What should I do to make my property more marketable? What is the length of a common lease term? What is a standard late fee for tenants? What items make up "Common Area Maintenance Charges?" The city has cited my property for violations. Can you help me? What is the best way to go about refinancing? What is title insurance? Do you cooperate with other brokers? Can you provide referrals for other services (ie, contractors, lenders, attorneys, etc.)? What other services does The Granger Company provide other than sales and leasing?
You only have one chance to make a first impression. Therefore, it is important that your property be clean and presentable. This includes clearing the property of debris (inside and outside. Giving the building a fresh coat of paint and installing a new carpet in the office will make a big difference to a potential tenant or buyer. Clearing flower beds of trash, trimming hedges and adding some colorful new plants will give the place a "well-cared-for" look. Finally, everything in the property must be in perfect working condition, which includes, but is not limited to, HVAC, electrical, doors, gates, plumbing and roof.
We do not suggest making substantial changes to the property. For example, we have often witnessed a landlord make a dramatic change such as demolishing existing offices and than receive an offer from a potential tenant that requires office space.
The normal market lease is between 3 to 5 years, but smaller buildings may have shorter leases and larger buildings may have leases of ten years or more. Longer terms are sometimes available through options to extend or renew. The more established the tenant and its financial statement, the easier it is to enter into a longer term lease.
We recommend lease terms of at least three years because this prevents unwanted down time in the leasing cycle and allows the landlord to recoup the costs of refurbishing the property to a marketable condition.
Rent is defined as all monetary obligations of the lessee to the lessor under the terms of the lease. A late payment of rent by the lessee can cause the lessor to incur costs such as processing or accounting charges and, potentially, late charges which a lender has imposed on the lessor. The standard late fee for tenants is 10% of each such overdue amount or $100, which ever is greater.
Common Area Maintenance Charges are defined as all costs incurred by the lessor relating to the ownership and operation of the property. This includes, but is not limited to:
The Granger Company can save you a tremendous amount of time, energy and aggravation if you are dealing with property violations. We are extremely knowledgeable of various zoning and permitting ordinances in all local communities, and can be a valuable resource in discussions with city and county governments.
There are many different options in the lending market today, and The Granger Company can help you determine what's right for you. Through our many years of business, we have closed hundreds of financing transactions for our clients, and have built strong relationships in the lending industry. We will listen to your financing needs and ascertain your current financial situation before we make recommendations. We will then walk you through the process every step of the way, from the initial application process to the closing of your loan.
Unlike other types of insurance which protect the insured against loss due to unexpected future events, title insurance protects against loss which may occur due to events that took place in the past. Specifically, title insurance protects a property buyer against loss resulting from previously unreported land title defects, such as forgeries, claims by missing heirs, and recording errors.
The Granger Company has nurtured relationships with other brokers and real estate professionals for more than twenty years. All of our agents are members of the American Real Estate Association, which consists of the brightest and best industrial and office brokers that Southern California has to offer. Through this organization, we cooperate with brokers through a multiple listing service. The moment that your property is listed with us, it will be presented to over 600 Southern California brokers. Through our expertise and the resources of the brokerage community as a whole, we will achieve your objectives in a timely fashion.
The Granger Company is also an active member of the AIREA (American Industrial Real Estate Association), which provides the greater Los Angeles County real estate community with a Standard of Codes and Ethics.
Finally, we currently hold over 8,000 contacts in our database of tenants and owners, and we will happily cooperate with any licensed broker representing a potential lessee or buyer.
The Granger Company has developed strong relationships with professionals across all industries in our business community. We have worked with many of Southern California's most talented attorneys, real estate lenders and construction companies. We would be happy to share our expertise with you. In addition to referring you to service providers, we can help you manage these professionals as well.
The Granger Company is a full service real estate company. In addition to our first class brokerage line of services, we offer property management, investment, and consulting services.