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All Forum Posts by: Courtney Duong

Courtney Duong has started 24 posts and replied 319 times.

So one of our current tenant in a retail commercial is asking for permission to bring in the Gulf Coast Regional Blood Center and their mobile coach for a blood drive in our parking lot.  He already asked the rest of our tenants and they have no objection to this blood drive.

The plan that he proposes is that he will coordinate with the tenants on this blood drive:

. the mobile blood donor coach coming to the main parking area of our retail strip for a to be determined date in June.

. Typical four and one half hours per session, 10 AM - 2:30 PM, for example.

. Each tenant could recruit a list of donor commitments using their social
media, word of mouth or whatever, to the extent that they wish to put
in effort.

. He will consolidate the donor list and agree the time and date for the mobile donor coach to come to our shopping center.

. Each tenant can offer incentives as they wish for entice donors to come.

. Each tenant can promote the occasion on their social media or however they choose.

. He will attempt to get additional promotions through the CyFair Houston Chamber of Commerce of which he is a member.

We want to say yes to this because:

. A robust blood supply is important to the community. This is a noble cause that we always support.

. The tenants of our retail could use some publicity and promotions, hopefully leading to increased traffic at the shopping center.

However, I am not sure if this will pose any risks to our tenants and to us as landlord?  Should we let them do this blood drive and if yes, what should be done to mitigate risks?  Any advice/tip is greatly appreciated!

Thanks.

Post: Free and Clear home given to me

Courtney DuongPosted
  • Property Manager
  • Texas
  • Posts 324
  • Votes 68

Following.

Post: First commercial lease negotiation

Courtney DuongPosted
  • Property Manager
  • Texas
  • Posts 324
  • Votes 68

@Kavi S. thanks for taking the time and answering all of my questions. Really appreciate it.  Once again I am truly happy for you on your first commercial lease deal.  Good luck, stay safe, and happy investing.

Post: First commercial lease negotiation

Courtney DuongPosted
  • Property Manager
  • Texas
  • Posts 324
  • Votes 68

@Kavi S. nice job.  You got them agreed to pay last month rent un front too.  Will remember that next time.  Just 1 more question: for the 2 months free rent, was it totally free or you made them pay tax, insurance for those 2 months?

Post: The 6 Pillars Of A Great Rental Market

Courtney DuongPosted
  • Property Manager
  • Texas
  • Posts 324
  • Votes 68

@Brian Ellwood great list!

Post: First commercial lease negotiation

Courtney DuongPosted
  • Property Manager
  • Texas
  • Posts 324
  • Votes 68

@Kavi S. I forgot to ask about deposit.  How many months are you getting, 1 or 2 months?  Thanks.

Post: First commercial lease negotiation

Courtney DuongPosted
  • Property Manager
  • Texas
  • Posts 324
  • Votes 68

@Kavi S. Congrats on your first commercial lease negotiation!  I am happy for you.  I was going through the same thing, had a vacant prior to covid and was in negotiating with a potential mom-n-pop Mexican restaurant tenant.  Got the guy to agree verbally to 5 years lease, 3 months free rent, 12k TI, no rent increase first 2 years but rent bump is 3% annually after that.  So right when I was about to look for a lawyer to draw up the lease that's when covid hit and of course the guy said he needed to put it on hold to see how things play out.  Texas just opened back up started last week so I am giving it a few more days and will reach out to him again.  Hope I will be lucky like you and he is still interested in the deal.

Just got a call from a guy asking if we lease to CBD store.  Seems he doesn't care too much about the rent rate (since that business is making good money I assume).  Not sure what to think about that.  

@Amy Heitner just saw the link you posted above. Thanks for sharing, appreciate it!

@Amy Heitner Hi Amy.  I just sent you a PM.  Could you please also share that toolkit with me.  Thanks a lot!