I’m starting a new business, why won’t landlords talk to me?
I often hear from startup business owners that they have trouble getting responses from landlords and leasing brokers. While I can understand the frustration of not getting a return phone call or email, I also understand the view of landlords and agents. After listening to, and commiserating with, the business owner, I start asking some questions. It usually […]
Washington State updates agency law and the Law of Real Estate Agency Pamphlet
At Tellus Real Estate Solutions, we’ve received reminders from both the Northwest MLS and the Commercial Brokers Association about the updates. Some of the updates are simply about terminology (a few years ago, agents were called ‘agents’ and broker meant an agent had a more advanced license, a broker’s license. I’m not convinced the current terminology is […]
What happens if I default on a commercial lease?
Commercial leases are generally much longer than a typical residential lease. The tenant is making a much larger financial commitment. In fact, the financial commitment is so large that new accounting rules were put in place to make sure that financial reporting by public companies reflected this commitment. For details see this NY Times article: […]
Dupre+Scott takes the mystery out of vacancy rates
The fine folks at Dupre+Scott are demystifying vacancy rates this past week. My takeaway from the info they’ve been sharing lately? Smaller units are a better investment than larger one (aka, for multifamily go 1-bedroom, not 3-bedroom). Of course, I’m sometimes accused of oversimplifying things. Check out the video (always entertaining): Patagonia Vs. Apartments from […]
Multifamily update from Dupre+Scott at RHA’s Spring Workshop
On Wednesday before last we helped sponsor RHA’s (http://www.rha-ps.com) Spring Workshop. One of the featured speakers was Mike Scott of Dupre + Scott (www.duprescott.com). This weeks’ update is a summary of his presentation. Check out the article that goes with the video at the Dupre + Scott blog http://www.duprescott.com/productsservices/articleinfo.cfm?ArticleId=606
RHA Call to Action – Oppose B & O Tax on rental income
I thought I’d share this call to action from the Rental Housing Association. If you, like I, own rental properties in Washington State. It is important to fight this tax increase. If you are a renter, I think you should fight it also. In the end, these costs will get passed to you. Effectively, as […]