All Forum Posts by: Chad Hale

As others said, your lease should address who is responsible and how issues should be communicated to the landlord.  It sounds like your actions were timely?  A conversation with them followed up with an email summarizing that conversation is a good place to start.  They may simply want to be heard and have the issue addressed?  You do want the issue fixed, including blocking any entry points.  Rats and other critters (opossums, raccoons, mice etc) are very common in San Jose.

Make the start date of the lease contingent and effective upon closing.  Put an end date to this as well in case the closing date pushes out which could change things.

You are starting a business.  It's a grind.  One thing that is different from other businesses is that there are no days off.  Things break and issues occur every day of the week, uplanned.  Putting in place policies and systems to handle that will be key otherwise you'll always be working or at least be on-call.  
If you love property management and want to start a business keep looking into it.
Otherwise keep buying income producing properties to generate wealth.

Adding to Nathan.  The commercial space is a completely different animal compared to residential.  The Lease will govern everything and most judges will assume you had full knowledge or the capacity to understand the Lease since you are a business owner.

NNN typically makes you responsible for just about everything. Be sure to fully understand what that means and negotiate the Lease language appropriately to protect yourself.  It would suck to start a lease and have the HVAC system go out and be 100% responsible for a new one.

We offer at no cost to tenants.  Hardly anyone takes advantage of it.

@David Rosen Happy to talk with you about property management in San Jose.

Chad

@Vicky H.  It depends on your long term goals, risk tolerance and earning potential.

A couple of bay area sayings: 

  Any time you can afford to buy real estate you should.

  Buying a home is the bay area retirement plan

Yes, there are a lot details and differences for everyone's particular situation.

Slowest fall in the San Jose area I've seen since before covid.

Truckee had some incentives not that long ago for new long term rentals entering the market.
Call the city to see if still available.  The tahoe STR rental activity is down this year compared to the last 5.

Commercial and residential leases are completely different. I would get someone who knows and does commercial leases to help you out.  NNN lease is the only type I would do on a 5/10 year commercial lease.  You are asking about a gross lease as an option,  in your situation even with the very few details provided that would not even be an option in my mind.

Yes, hire a broker to help you out.