“What is a normal security deposit?” is a question we hear all the time. People are always looking to minimize the amount of money they have to fork over for a security deposit – and while there are ways to do so, there’s no foolproof method to achieving a lower security deposit.
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SNDA and Do I Need One?">What is an SNDA and Do I Need One?
An SNDA basically says that if a building goes bankrupt and the lender takes control of the building from the landlord, the lender will honor your lease. People tend to get very freaked out about SNDAs, but the truth is, they’re nothing to go crazy over. Find out why…
Real Estate Taxes and What They Mean to You as a Tenant
Did you know that the single largest expense for a commercial office building landlord in Manhattan (outside of debt service) is real estate taxes? And that 48% of the city’s total tax revenue is derived from real estate related taxes? Were you aware that in the last decade, real estate taxes have increased by 108%?
The Eight Mistakes Tenants Make When Leasing Office Space
We all make mistakes – but when it comes to leasing office space for your business, mistakes equal dollars – sometimes big dollars. Here are the eight most common mistakes tenants make when renting office space, as well as an insider’s take on how to avoid making them.
Are You Aware of the Sprinkler Law and Its Repercussions?
Starting in 2018 New York City building code will require all buildings over 100 feet in height to have a working sprinkler system in compliance with the new sprinkler mandates. You might think this code doesn’t apply to you, but it could. And if it does, be careful.
Now is the Time to do a Deal
Across the country the real estate market has been hit hard by the economic recession. Manhattan has been hit particularly hard. Prices are down and vacancy rates are up. Banks and hedge funds have dumped massive amounts of space onto the market. Sublets are aplenty and landlords are desperate. Right?