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Common Sense Solutions To Protect Your Business And Real Estate Interests.

Collier County Business And Real Estate Law Blog

Go beyond the basics with a commercial property inspection

Are you in the market for a piece of commercial real estate? Are you in the process of buying a property? If so, you're probably happy that the process is moving forward as planned.

However, before you finalize the deal, there are many details to consider. For example, you need to order a commercial property inspection.

Top tips for choosing a business partner

Are you in the process of starting a business? Are you seeking a partner who can help you reach all your goals?

While this is a good approach, there are things you need to keep in mind. For example, some people make better business partners than others.

Ask a landlord these questions before signing a lease

Once you find the perfect property, you may be ready to sign on the dotted line. Before you do this, make sure you review the lease in great detail. From there, it's always a good idea to ask the landlord a few key questions.

Here are some top questions to ask a landlord before signing a commercial lease:

What are the benefits of sole proprietorship?

If you decide to start a business on your own, you may want to consider the benefits of sole proprietorship. This isn't your only option, as you could also create an LLC or corporation, but it's one that you should definitely consider.

The primary benefit of sole proprietorship is the ability to get up and running in a short period of time. Unlike an LLC, for example, you don't have to create a legal agreement or file much paperwork. Along with this, you have the opportunity to run the business however you best see fit.

3 keys to making sound commercial investments

Commercial properties can be a lucrative investment opportunity if you play your cards right. If you make a wrong move, though, they can easily become a money pit, too. The difference between a good investment and a bad one might come down to a single digit’s difference in zip code or issues that are even more difficult to detect. Making wise commercial investments, like anything else, is a learned skill. There are several precautions you can take, however, that are keys to avoiding investment disasters.

Always have a plan

Are you getting the right business formation guidance?

Many people are so excited about starting a business that they overlook the most important details. For example, they forget to choose a business structure and file the necessary paperwork to become a legal entity.

Properly incorporating your business on day one is extremely important, as this gives you the foundation you need to grow. On top of this, it provides a variety of tax benefits and legal protections, both of which are extremely important.

What are the most important commercial landlord responsibilities?

As a commercial property landlord, it's important to understand all your responsibilities. The same holds true if you are a tenant, such as somebody who is renting office space.

Here are some of the most important commercial landlord responsibilities:

Three tips for protecting intellectual property

Intellectual property rights can be complex, but they're incredibly important. Many businesses only thrive because they have rights to a specific piece of property that other companies cannot legally touch, giving them a tremendous edge.

You don't want to lose that to the competition just because you did not protect it properly. Below are three tips that can help.

How to deal with a commercial lease dispute

There is nothing worse than a commercial lease dispute. It doesn't matter if you are the property owner, manager or tenant, you know that this has a way of costing you a lot of time and money.

Even if you do your best upfront to understand all the details of a commercial lease, you never know what could happen down the road.

Avoid these 5 common landlord mistakes

Renting property is a great and reliable source of income because housing needs will always exist. You can significantly increase your net worth with the right business moves.

However, being a landlord entails more than just filling in empty spaces. It requires your full attention instead of the status of a side job because it comes with many responsibilities that can easily bring you down if you do not take care of them correctly. These are only five of the many mistakes inexperienced landlords can make to hurt their business growth.

  1. Drafting a poor rental agreement. Review your contract with a lawyer to ensure it is thorough, detailed and clear. This is the best defense against disputes.
  2. Being too lenient. What is the point of having tenants sign the rental agreement if you are not going to hold them to it? Enforce rules, late fees and evictions, always in writing for potential use as evidence. Follow your end of the contract as well, such as by notifying tenants when you are coming.
  3. Choosing the wrong rental price. Research the market rate and go slightly below it to attract tenants. Vacancies and high turnover reduce profits.
  4. Not screening potential tenants. Do not let your desire to fill vacancies prevent you from doing proper background checks on applicants and turning away problematic people. Include the reason for rejection, making sure it is not a protected class in the Fair Housing Act.
  5. Relying on only one source of funding. Maintaining, renovating and building upon rental properties takes more money than you may expect. You need to use various financing tools to meet your real estate goals and stay out of the red.
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