Scott No Mates wrote:
Opportunistic? Ambit claim? You/your agent aren't even on the invoice, how do they expect to tie liability to you? Gets you off to a really good start with the tenant.

To even confuse things even more, I received TWO invoices (along with my demand letter):Original Invoice had tenant's name on it. Subsquent Invoice had my…[Read more]

Terryw wrote:
Must be distressing.That is something you will have to argue about. Whats your lawyer saying? You might have to bring the tenant in as a party to any court case.On the other hand legal expenses are likely to be high and hte risk of having to pay costs to the otherside if you lose. It may be worth considering just to pay it and…[Read more]

Terryw wrote:
I see. In that case then the administrators can continue with the litigation. How much are they suing you for? usually they wouldn't bother as their fees would be more than the get back – good way to get paid though!

$35K.Thing is though, I never contracted them, it was my tenant who did…so he should cough up.

Terryw wrote:
That must mean your tenant is under administration? What has happened for that to occur?

No, the electrician (his brother in law) is under administration, not the tenant.His electrician brother in law is currently insolvent.

Scott No Mates wrote:
Has your pm served notice of breach of lease for unapproved work? Why not? The unauthorized works ie Fitout, 3 phase, additional lighting etc have any of these works been approved or could the tenant have assumed approval due to you/your pm not telling the tenant to cease? Did the tenant have to install a 3 phase meter &…[Read more]

Terryw wrote:
Do you mean debt collectors? If so, then the electrician could have sold or assigned his debt. The new assignee would have the same rights to be paid as the original electrician – which is in dispute. It would be his arguments and evidence against yours still.

At the moment, no. I believe it was the liquidators who wrote to my PM…[Read more]

If anything is to go by, a lot of the leases we see on the websites come with a "white/vanilla" box – i.e. 4 concrete/brick walls, roof and door. Anything else/improvements is generally at the tenant's expense.

melb15 wrote:
We're about to sign a lease on a brand new warehouse/office. Downstairs is warehouse upstairs is the office. The place is brand new so it is like a blank canvas. We let the landlord know what modifications we required and they proposed the below allocation of who will pay for what. I just have two questions: 1. Does this allocation…[Read more]

Scott No Mates wrote:
Will, each class has a different use hence produces a different return & different value. Warehouse has the lowest rental value however you get the largest area with a little for office/amenities. Ie you don't pay much for storage. Office space is generally better located to transport & cod. Rent & cost is greater. Retail…[Read more]

Thanks Scott.We kept with the current agent, in the end it was in my opinion, a case of right timing. As noted above in my old posts, I had set a time limit of 3-4 months before fielding other agents or even thought about doing the whole process myself and engaging a lawyer for the paperwork. I didn't tell him this of course, but I think it got to…[Read more]

angelinsydney wrote:
Hi willister,I'm not sure if you have found a tenant but have you ever thought of giving a rent free period to help the business operator a leg up?If you could find a tenant, get them to pay all out-goings, so at least you don't have to pay the rates, etc.I have never owned a commercial property so I really wouldn't know if…[Read more]

Hi There,I'm not expert, but what I can share is my experience, what you can get out of it is up to you and don't take it as advice but just a "story or shared experience:I started off like almost every other commercial investor in the residential side about 10 years ago, was relatively young at 22 years of age. Let me just say that one of the…[Read more]

By far plumbers are the most difficult to find! I have a trusted plumber, isn't cheaper than the competition but I would say does a decent job, doesn't overcharge and actual charges reflect quotes. Best of all, his jobs have been pretty good.The only downside is that as he lives pretty far, sometimes he doesn't show up on time. PM me if need be…[Read more]

BigTeddy wrote:
How long do your commercial/industrial tenants normaly stick around?What type of business do they have?Do you find they want to break leases early?Do you find there business is not a success and they close the doors?What tenants stay around for a long time?Is retail better?Anything else you mite be able to think of?

Based on two…[Read more]

From experience, CPI has never reached anywhere near % increase on rents. The highest in recent memory was like 4.0%? Rest of the years has been well below 5% which is what I have on my old lease! Getting a tenant to agree to this, however, would be a challenge! Disclaimer: I'm not an expert and please don't take my advice as professional advice.…

Scott,No, I haven't ditched him as yet…I had a face to face discussion with him over the weekend and decided to give him another "4 months" to prove himself. Having a look at the whole picture, I'm monitoring the surrounding properties and they don't seem to have moved either. Several were vacant circa mine was, so I'll keep a close eye. Also…[Read more]

Hi,I'm pretty much in the same boat, only difference is being in Melbourne. I think with commercial property, biggest difference I felt vs residential is that the vacancy rates are much higher and longer! It's up to the 7th month mark and I have analysed everything that has "gone wrong" with the property and put it in the best position to be rent…[Read more]

thecrest wrote:
Might help to review in detail all the ways the agent is marketing the property, assuming you've been getting advertising invoices.Put signs on the fence and building for those who want to expand in the area or are driving around prospecting.List with 2 other agents, competition creates urgency and activity.Insist on being…[Read more]

Hi Scott,Thanks for your response:1. Located in Melbourne, Inner West to be exact.2. Factory size is about 700m2 of usable space.3. Business Zone 34. Rent is what I would consider market value of the premise, going rate is currently $28K + GST + Outgoings for 700m2. As I said in the earlier post, nearby rents are nearly double for half the space,…[Read more]