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Financial Factors to Consider When Entering into a Commercial Lease — 2-Hours of FREE NYS CE Credit - Shared screen with speaker view
Ryan Haber
02:04
Good morning! Here’s today’s Financial Factors to Consider When Entering into a Commercial Lease course outline: https://bit.ly/2BekDFb
Ryan Haber
02:58
Join us in supporting the ongoing efforts of the Food Education Fund, a 501(c)(3) nonprofit organization. All donations received will directly support the Food Education Fund’s work to distribute food to thousands of public school students and their families, and to compile and amplify resources for all public school families as well as restaurant owners and workers. No donation is too small or too large. Donate here: https://secure.givelively.org//donate/food-education-fund/leasing-reality
Ryan Haber
05:10
A donation of $500 (or more) will receive a FREE 1-Year Subscription to Leasing REality. Through June 30, 2020, 15% of each 1-Year and 2-Year subscription fee will be donated to the Food Education Fund — subscribe at the discounted student rate ($199.99/$299.99) via the student checkout option. Subscribe here: https://bit.ly/2Xyhp84
Marsa Truscott
21:01
Good morning, Larry!
Richard Kruse
23:27
Morning everyone! Rich Kruse - DE, LIBOR Commercial
Paul Fetscher
27:16
Restaurants
Stephen Ramkelawan
29:48
Can you use the funds from the PPP for hazard pay for yourself on the books if you can’t hire any employees for the 24 weeks
Stephen Ramkelawan
32:21
from Stephen Can you use the funds from the PPP for hazard pay for yourself on the books if you can’t hire any employees for the 24 weeks
Julia Jie Li
34:08
I missed: what is it about Signing Warranty?
Mary Goldsmith-Mahoney
51:02
I have a tenant that would prefer percentage rent based on annual gross sales. How do you structure a brokerage commission.?
Mary Goldsmith-Mahoney
53:42
thanks for answering my question !!
Paul Fetscher
54:36
Normal rate - payable annually or semi annually in arrears - AND Paid on Percentage Rent
Doug Kleiman
55:52
Observation: Landlords need brokers now more than ever. However, LLs are also crying poverty and are looking to lower commission rates. My response: The rents are lower, and therefore the total fees will be reflected anyway (without lowering the rates/schedule)
Paul Fetscher
01:00:06
I'm having landlords inserting Unamortized brokerage commission being covered by the Good Guy clause
Doug Kleiman
01:00:27
Question: Have you seen “Cash Trap” provisions in loan documents being activated as LLs are restructuring leases?
Doug Kleiman
01:04:57
Agree: Increased sublet inventory is often a leading indicator of increasing vacancy
Paul Fetscher
01:14:36
Let's keep going! You're on a roll!
Richard Kruse
01:14:59
no break
Julia Jie Li
01:15:15
End earlier thx
Mary Goldsmith-Mahoney
01:15:33
Keep going
Ari Waldman
01:15:37
what do we do if our tenant is up to date on paying rent and the landlord doesn’t have the money to pay our commission?
Pamela Karmaniolos
01:15:44
keep going
Louis Fisher
01:15:47
As Jim Morrison would have said, Roll, Baby, Roll
Diane Solano
01:16:05
keep going for early end
Paul Fetscher
01:16:20
Brokers: We Don't Get Paid for MOST of What we do!
Doug Kleiman
01:22:00
could agree to 2021 base year, but defer billing to tenant
Doug Kleiman
01:26:33
Frank Ring!
Doug Kleiman
01:30:46
421A
Paul Fetscher
01:34:34
As a Retailer, I don't use the elevators or cleaning or electric. I don
Paul Fetscher
01:34:45
t want any 32-B escallations
gary schacker
01:40:45
A lot of what used to be capital costs and amortized can now be considered as repairs
Paul Fetscher
01:41:58
Last Decade has been 1.76% CPI
Paul Fetscher
01:42:05
compaunded
Paul Fetscher
01:43:02
Recently I'm getting 2%
Paul Fetscher
01:45:18
Ten Years @ 3% compounded = 34.39% increase
Paul Fetscher
01:51:29
And thanks for spareing us the Rap Music Introduction
Doug Kleiman
01:51:38
Are you seeing “Cash Trap” provisions in loan documents being activated as LLs are restructuring leases?
Doug Kleiman
01:57:20
yay Paul!
james wacht
01:58:34
here is the dilemma : in a previous lecture you said that term sheets should be short but if we included everything you specified in todays lecture the term sheet would be many pages long!
Doug Kleiman
02:00:38
Larry, do you expect the new law (voiding the person guarantees in NYC through Sept 30, 2020) to be upheld? I have already seen tenants walking away
james wacht
02:01:29
the market, not logic, is the primary driver of what you can negotiate. the days of onerous lease and guaranty provisions is over for now.
Doug Kleiman
02:01:55
@James Wacht….agree!
Paul Fetscher
02:03:19
And I have seen the "No Personal" Abused!. An in place tenant was Supposed to Vacate in March. He had agreed to a surrender. He last paid rent in November. Now he Staying In Place and won't oay any rent thru August. Therefore No Rent for 9 months and he isn't personally liable.
Doug Kleiman
02:04:31
@Paul…yes…seeing that too!
james wacht
02:06:24
given where we are in the market does it make sense for a LL to use tough lease documents? as a LL I want to get my deals quickly. dont want a tenant to go to a different building. plus the longer it takes to get a lease signed the longer it will take to collect rent.
Doug Kleiman
02:07:59
Larry, do you expect the new law (voiding the person guarantees in NYC through Sept 30, 2020) to be upheld? I have already seen tenants walking away
Paul Fetscher
02:16:34
Exit strategy: You wouldn't build a house without a back door, would you? - Wolfgang Puck
Doug Kleiman
02:17:22
Thanks for answering Larry!
Ryan Haber
02:19:03
Thanks for joining us today - if you asked a question and it wasn’t answered, feel free to reach out to Larry at 9173629413 or lhaber@agmblaw.com. Stay safe and enjoy the weekend!
Edward Kalisvaart
02:19:05
You are da man!
Ryan Haber
02:19:27
Note that we will submit the “student list” to the DOS as soon as possible. Thereafter, we will generate certificates for those that provided broker license credentials during the registration process - an email will follow when the certificates have been uploaded to Leasing REality with access details. For those that attended last week’s session, the password will be the same. If you have any questions don’t hesitate to reach out!
Richard Kruse
02:19:34
TX for the info!
Ryan Haber
02:19:48
Join us in supporting the ongoing efforts of the Food Education Fund, a 501(c)(3) nonprofit organization. All donations received will directly support the Food Education Fund’s work to distribute food to thousands of public school students and their families, and to compile and amplify resources for all public school families as well as restaurant owners and workers. No donation is too small or too large. Donate here: https://secure.givelively.org//donate/food-education-fund/leasing-reality
Ryan Haber
02:20:03
A donation of $500 (or more) will receive a FREE 1-Year Subscription to Leasing REality. Through June 30, 2020, 15% of each 1-Year and 2-Year subscription fee will be donated to the Food Education Fund — subscribe at the discounted student rate ($199.99/$299.99) via the student checkout option. Subscribe here: https://bit.ly/2Xyhp84
Doug Kleiman
02:20:04
Thanks Larry….this was so great, informative and enjoyable as always!!!