All Forum Posts by: Shin Bo

Hello everyone,

We purchased a commercial property about 5 years ago and inherited a commercial tenant who has been kind of a pain in the butt and we do not wish to resign the tenant when their lease expires at the end of the year.  Is there a good way to approach this process to minimize blow back? Or should I just give them their 30 days notice and be done with it.  I'm in PA for whats it worth. 

Thanks for the tip guys. I give them a shout.

Hello everyone,

Not sure if this is the right forum , but I was wondering if anybody here has experience with trying to lease out part of their wall for advertising. I have a family member that has a piece of property in downtown Philadelphia that gets pretty good foot traffic and the space is currently just blank. 

I brought up the idea to him but I don't have the faintest idea of how to begin searching for advertisers or even finding out what type of permits would be necessary for something like this. If anybody has any experience with this type of thing and would like to dispense some advice, it would be much appreciated.

Thank you

Shin

Hey James, 

May I ask what type of business is your commercial tenant? I called up Geico and they mentioned that they don't cover my type of tenant(martial arts studio) I wonder if there is a certain cutoff. 

Hey James, 

Thanks for replying never thought to use Geico, is the policy you purchased from them "landlord insurance"? or "General Liability insurance/CGL?"

Can someone recommend an insurance broker for Commercial rental? My policy is due to expire soon and I want to shop around for a new broker/carrier

Thanks

Hello everyone,

I have a balloon payment coming up and I was wondering what are the interest rates everybody receiving lately after the interest rate increase? I'm on the east coast, PA specifically but curious at the rates all over.

Thanks

Shin

Thanks for the tips, just wondering would ADA sections of the lease fall under a certain section or would it be its entire its own subsection usually?

I feel like this clause would be applicable in this situation in regards to the lease.

"Requirements of Public Authorities. Comply with any requirements of any of the constituted public authorities, and with the terms of-any state or federal statute or local ordinance or regulation applicable to Tenant or his use of the demised premises including alterations, repairs or improvements and indemnify Landlord from penalties, fines, costs, or damages"

Hello everyone,

So my commercial tenant is going to court with one of those ADA compliance warriors and it hasn't been completed yet, but I was wondering if it's ruled against my tenant, is it a tenant responsibility or a landlord responsibility to bring it up to compliance? Also can the building be grandfathered in? The commercial space is a 1st floor pizzeria and the property is located in Philadelphia.

Thanks

Hello everyone,

I have a real pain in the *** commercial tenant that I plan on not renewing after the current lease expires but for an unreasonable issue  they decide to not pay their rent for one previous month. 

I plan on fully going through the legal process. If after going through the legal process the tenant decides to pay what's owed to me, is it possible to refuse payment and continue with the eviction since I plan of getting rid of them down the line anyways or do I have to accept and continue with the duration of the lease or is it dependent on the court? 

Just curious because I feel there will be even more bad blood going further and who knows what kind of damage the tenant will cause for the remainder of the lease.

Thank you