Question by azntennisguy: What can I legally do to fight back a commercial landlord who discriminately declines us an option to renew?
My family purchased a Chinese restaurant business in a commercial shopping center about five years ago in California and our five year lease is up in August. The owner of the commercial property has not offered our restaurant business an option to renew our lease. We had already invested a couple of hundred thousand dollars in this business (including expensive computer and kitchen equipment), but as the end of the lease approaches, we’re scared that we can’t even sell the restaurant off even if we wanted to. I have spoken with the Asset Manager of the company that owns the property and he said that he cannot give us a long-term lease but we can pay rent on a month-to-month basis.

When I asked why couldn’t we get a long-term lease renewal, he originally said that they were going to do some remodeling on the entire front building complex (the building’s arcade) after our lease ends sometime while we’re paying rent on a month-to-month basis and then he said that we will need to vacate the premises once construction actually starts (he also said that he was going to give us a 30-day notice to vacate as well). But then I asked if we could get our original business location back after construction has completed… A moment later he said that there’s going to be a “70% chance that there’s going to be investment in the property” so that they can “change up the assortment of tenants on the property” towards a specific marketing concept where there will be select requirements for the new tenants: business income level, type of business, ability to pay higher rent, etc. I don’t exactly know what kind of “marketing concept” he was going for or even if restaurants were a part of that marketing concept equation’s composition.

It’s interesting to note that some of our family business’ neighboring tenants are also of Asian-descent, but they have about two years of their lease left. I just found it odd that they were targeting our mom and pop businesses and slowly try to get us out of the shopping center.

Can this company just kick us out like that? Isn’t there some sort of California Commercial Code that says this illegal? But more specifically (and what my family’s more concerned about), is there any way to make the company help us recoup our losses from having to find another location for our restaurant business?

Best answer:

Answer by dog ma
They are not kicking you out, they are simply electing to not renew your lease. The only way to guarantee that you will always have a permanent location is to own the building. Keep up as long as you can with the month-to-month situation, but be looking for a new location. Month-to-month also means that you can leave when you want to with 30 days notice. There are no laws that will force them to help you move – you only signed a 5 year lease and that time frame is now over.

What do you think? Answer below!

Technorati Tags: back, Commercial, declines, discriminately, fight, landlord, legally, option, renew

Question by azntennisguy: What can I legally do to fight back a commercial landlord who discriminately declines us an option to renew?
My family purchased a Chinese restaurant business in a commercial shopping center about five years ago in California and our five year lease is up in August. The owner of the commercial property has not offered our restaurant business an option to renew our lease. We had already invested a couple of hundred thousand dollars in this business (including expensive computer and kitchen equipment), but as the end of the lease approaches, we’re scared that we can’t even sell the restaurant off even if we wanted to. I have spoken with the Asset Manager of the company that owns the property and he said that he cannot give us a long-term lease but we can pay rent on a month-to-month basis.

When I asked why couldn’t we get a long-term lease renewal, he originally said that they were going to do some remodeling on the entire front building complex (the building’s arcade) after our lease ends sometime while we’re paying rent on a month-to-month basis and then he said that we will need to vacate the premises once construction actually starts (he also said that he was going to give us a 30-day notice to vacate as well). But then I asked if we could get our original business location back after construction has completed… A moment later he said that there’s going to be a “70% chance that there’s going to be investment in the property” so that they can “change up the assortment of tenants on the property” towards a specific marketing concept where there will be select requirements for the new tenants: business income level, type of business, ability to pay higher rent, etc. I don’t exactly know what kind of “marketing concept” he was going for or even if restaurants were a part of that marketing concept equation’s composition.

It’s interesting to note that some of our family business’ neighboring tenants are also of Asian-descent, but they have about two years of their lease left. I just found it odd that they were targeting our mom and pop businesses and slowly try to get us out of the shopping center.

Can this company just kick us out like that? Isn’t there some sort of California Commercial Code that says this illegal? But more specifically (and what my family’s more concerned about), is there any way to make the company help us recoup our losses from having to find another location for our restaurant business?

Best answer:

Answer by STEVEN F
They are NOT targeting you. They are getting rid of EVERYONE as soon as their leases are up, because they are legally required to honor the existing leases. NO state requires ANY landlord to renew leases. Any lose is an INHERENT risk of operating a business. You have NO claim. As it stands, you were given more notice than legally required. Find a new location BEFORE August.

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Technorati Tags: back, Commercial, declines, discriminately, fight, landlord, legally, option, renew

Question by : Landlord won’t pay repairs?
I rent my place. My landlord is also my Grandma. She owns many “investment properties” and this is one of them. She is giving me a good deal and wants to sell the place to me (my husband refuses). There are some windows that need to be repaired and she said they’re my problem (just wear and tear as the place is 40 years old). She said don’t ask her for money, I feel like if I am paying her rent I should be able to get the repairs done, how can I over come this attitude of hers?
The window is coming out

Best answer:

Answer by acermill
YOU are asking for more than you deserve. While YOU may not like the existing windows, they probably work reasonably. YOU need to understand that ‘rental properties’ are NOT required to provide the ‘latest and greatest’. If you want to buy this property, then you need to buy ‘as is’, and complete upgrades as you desire.

If Grandma is already giving you a ‘good deal’ then you need to accept such ‘good deal’. Grandma is NOT required to sell you this property at a very attractive price, while also making it perfect.

What do you think? Answer below!

Technorati Tags: landlord, repairs, won't

According to some professionals, if you would like to be rich, you must try property investing.

Many people today are living in the top of wealth due to property business. Any one can access property investing and all that it takes is a little bit of data. Even though you are new in the estate business, you have already got the basic know-how about how things work. Maybe you were once a renter before you turned into a house owner. You knew how it felt to be a renter or a householder. You may use this data as you enter the property business.

Take this very fine example purchase a few homes and have them leased.

In about thirty years, you have already paid off the mortgages. The value of your property has doubled by this time and not just that, the rental rates are doubled. An additional benefit is that you do not have any loan payment. Are you now inspired? That’s just the classic model of property investing. Now what if you have 10 properties worth $80,000 ( 30 years back ) and at the moment it is already worth $350,000 each. The annual appreciation rate could be at least five pc. So now you have got a $3,500,000 portfolio. The lowest possible rental rate today is $1,200 ; multiplied by 10 will give you $12,000 gross hires each month. After the TI are took, you presently have about $9,000. Everything may appear easy. But actually, when you 1st acquisition properties, the succeeding years can be terribly troublesome. Why? Your costs at the beginning are truly high and you get slim money flow. Many investors can’t survive this stage because they do not have enough money to pay for the high costs. There’s a quick-fix solution. You shouldn’t focus on only purchasing properties and instead concentrate on quick-turning homes. You can turn the homes into instant money. Pick the quick-turning homes and flip them to other speculators for $5,000 to $20,000.

Your money flow wants will certainly be met and you get to maintain the rental properties. Management is the key to your success. If you intend to hold properties over the long run, you really ought to know ways to correctly manage them. You can manage them on your own or you may have a company manage it for you. You’ll be both an owner and a property financier. Though some of the people are not happy with the picture of owners, you may be a better one. Besides, the rental properties give you enormous dollars. You need to concentrate in purchasing several properties and not single-family homes. Residences are an excellent investment and you may earn more if you are going to buy residences. If you are prepared to take the job as an owner and a genuine estate financier, you can anticipate a bright and successful future. If you can survive the initial stages of your business, you will harvest huge profits in the future. The decision is yours. Now you have an idea of how much you can earn in property investing, do you not think its time that give it a try? Gather capital and observe the market.

Consult pros so all your decisions ad actions are led. If you’ve got the courage and data, being in the property business will certainly give you serious cash in the approaching years.

Technorati Tags: investing, landlord, real estate investing

The ultimate goal of investing in rental property is turn a profit. To make sure that you achieve that goal it is essential that you follow several critical guidelines.

First, always make sure that you check references. This can be a burdensome step that many landlords overlook if they feel as though they have a good instinct about the tenant when they meet with them. Not checking references; however, can lead to a number of problems. You can uncover a wealth of information about potential problems before you rent to a prospective tenant.

Always make sure that you have everything in writing. This is to protect not only your rights but also the rights of your tenants as well. Everything from the code of conduct you expect tenants to abide by while renting your property to the rental application itself should be in writing.

You will find that you have better success with your rental property if you take the time to ensure that it is both secure and clean. The grounds of the property should be free of clear and trimmed regularly. Not only will the property be more visually appealing but these actions will also assist you with property liability. You will also want to take additional security measures. Extra security may be able to lower your insurance premiums as well as provide an incentive to quality tenants to rent your property when they know it is secure.

If you make the decision to hire a property manager, take the time to interview prospective candidates very carefully. Property managers can be quite helpful if you do not have the time to tend to all of the details yourself. The wrong property manager; however, can cause you tremendous problems. This means that you will need to hire a thoroughly responsible and professional individual to handle the job.

Always make sure that you obtain adequate insurance. Not only should you have property insurance but you should also have liability insurance. One incident is all it takes to wipe out your investment. Check with your state to determine if any additional insurance coverage is required.

Regardless of the condition the property was in when you purchased it, there will come a time when repairs are needed. This is part and parcel of owning rental property. If you take too long to make repairs, not only will your property suffer and repairs will ultimately cost more to take care of but you will also likely lose quality tenants as well. By making sure that you handle repairs promptly you will be able to maintain the life of your property as well as retain good tenants.

Always make sure that you follow all applicable regulations in the renting of your investment property. The Fair Housing Administration Act provides precise regulations in order to prevent discrimination. If you violate those regulations you could find yourself facing a lawsuit that is costly in terms of time as well as money. The best course of action is to take the time to do your homework and consult an attorney experienced in real estate matters for guidance regarding the FHA as well as ensuring that you have the proper forms.

Finally, make sure that you do not violate the privacy of your tenants. Check with your state’s regulations to find out whether you must provide any type of notice to your tenant before you enter the dwelling.

Following these guidelines will help you to retain quality tenants and avoid any potential legal problems.

Technorati Tags: landlord, rental property, renting property