All Forum Posts by: Aamir V.

It really depends on what the lease language says... and then how you would like to approach it.

I've seen both.  The one year big jump, which may cause some angst among tenants.  It may be too late, but the thing to do here is communicate early, communicate often, and make sure they know it's coming.  Also, this is something you often do on a schedule (like you make it part of your X-year maintenance cycle), and you could just say that to tenants...

Which relates to the other thing you do, which is spread it over the X years, and just tell the tenants that it's part of CAM even when they sign.  If you don't do that, then what happens when a tenant leaves in the middle of a cycle, you know?

I agree with @cody.  Wouldn't you move the source of truth to your CRM instead?

I am using Airtable... which has a few useful automation to move beyond Google Sheets.  What are you looking for (and how is it different from @Drew Sygit's options? He provides a good overview of what I always get pointed to and do not like.

I am on the commercial side as well and dealing with NNN leases so I don't need all the property management stuff that residential seems to need. Some, not all.

Hi - I have a strip center property where the lease says that if I manage the utilities, I can add a percentage to the bill as a management fee.

I'm wondering:

1. Is this common?  Do you have something similar in your own leases (whether you are a landlord or tenant)?

2. How do landlords use this clause?  Like my tenants are just directly billed by the utilities available here (water, electricity, gas).  What is the value-add I'd really be providing to justify a fee?

It's good that you are being specific about what you are - that's the issue I see with most online discussions and Google searches. You said you're looking for:

* multifamily/industrial

* current listings

* old listings (do you mean sold?)

* off-market

* owners' information

Based on this, I'd say you have a few good options.

First, you have to play with LoopNet - it's easily the biggest.

BUT, The CoStar Group is sneaky, and the way they work with brokers means that you will find MORE listings on CoStar.com. Also, you'll see more of the sold listings there. You only get "recently sold" on LoopNet, and the search is mediocre.

The first competitor to consider is Crexi - it's basically LoopNet but smaller. You may as well check it out and use it similarly.

So Reonomy is different. Its focus is on the data for all properties first, then on current listings. So it'll have the information you're looking for and valuable data to help you with diligence, including owner information. If you want to pay the fee, it may help you in your search. And it's more likely to help you with the off-market deal search as a result.

I've been using LoopNet to look at some retail centers and STNL properties.  I got tired of copy-pasting info into Excel to see if a property met my cash-flow requirements, so I made a Chrome extension to do the work in one click.

Would anyone else find this useful?  How do you handle this process (or am I the only one who does this)?

You can set these values:

* LTV

* mortgage rate

* amortization period

* minimum DSCR

* minimum NOI

And then, if there's enough info in the listing, it'll give you a button you click that responds with a ✅ or ⛔️ and metrics calculated.

What do you think?

I use Airtable for this but wonder if there is something better...especially for tracking lease details and simple numbers for the P&L.  That's when I go back to Google Sheets.

Thanks for the thoughts Charles.  One question I've always had on this is how to verify the ledger is not doctored...?

I think @Ryan Moudy nails it with #2. If you can get the tenant to sign a longer lease and/or increase the rent and/or decrease other expenses, you'll make your NOI go up... if you end up paying for the carpet to make this happen I think the ROI is still excellent.

I was listening to the CRE Fast Five podcast and heard that it's a good idea to get a broker opinion of value every year.

Is that really true? Do you get one from multiple brokers?

Most importantly what do they look like? Is it just a comp report from CoStar?

I have a strip center in Texas we are thinking about and wonder if this is a typical first step to feel out good broker candidates.

Thanks for the thoughts!