Are you an entrepreneur/business looking to lease your first, second or third space? Are you a real estate agent looking to generate more income? Or maybe even an owner of commercial properties and wondering why your space isn't renting? This course is all about leasing commercial real estate property types from start to finish. From the perspectives of the agent, tenant, and landlord, this course provides a practical analysis of the important issues involved with leasing commercial real estate.
We will cover topics including, but not limited to: overview of industrial, office and retail; how square footage is measured; different lease types including Gross and NNN leases; finding properties including Loopnet and CoStar; getting the property rent ready and what is a vanilla v. grey shell; preparing an effective business plan; making commissions and money leasing properties; how to submit the offer and what to ask for during the offer stage; ease forms and negotiating the lease; And much much more ...
This is course is a MUST for anyone looking to lease a property!
Don't learn the hard way after a lease is signed. Let me show you how.
"Thank you for the wonderful class and presenting in a clear and concise manner." - lecture presented at the Southland Regional Association of Realtors.
Come join me and enroll today and maximize your negotiation power. I can't wait to have you.
Here we discuss the different Sections of the Course and an outline of the key topics that will be covered.
1. ABCs of Commercial Real Estate
2. Establishing Your Market Strategy
3. Agency Relationships
4. Making and Submitting the Offer
5. Negotiating the Lease
6. Getting Paid
This section includes an overview of all the different bread and butter commercial property types starting with industrial properties and then moving onto office and retail property types. We will discuss also various options of each classification including light v. heavy industrial, general office v. medical office, strip mall retail v. shopping center retail, and soft good tenants v. food tenants. In addition, this lecture will touch upon the pros and cons of each of the property types. This is a great introduction to the world of commercial properties and a good refresher for those who may have a bit more knowledge.
Diving right into the core of leasing, this lecture is all about the different type of leases you will uncover. We discuss what is a Gross lease, a Modified Gross lease and a NNN (Triple Net) lease. And since I like to provide extra information, this lecture will also discuss variations such as Base Year and NN (Double Net) lease types.
Square footage and how to calculate it is key with any commercial real estate transaction. We will discuss how the industry (using BOMA) calculates square footage and why it matters including what is considered usable square footage v. rentable square footage.
The most common question I get especially from residential agents is "how do I find commercial properties?" And the answer isn't simply to look on the Multiple Listing Service (MLS). You won't find them on Zillow. But here is a hint: LoopNet and CoStar.
For all the landlords out there this lecture is for you! Or if you want to know how a landlord is going to think check out this section. Even if you are an experienced owner, sometimes a refresher on how to get your property in shape for the highest rent is warranted. Therefore, we will discuss what it does take to get the property ready for a tenant including pros and cons, and what is considered a Vanilla Shell v. Grey Shell condition.
This lecture is for YOU! The tenant and business. Not only is business plan a powerful tool, but it can help win the landlord over to choosing you over someone else. Here we discuss how to make yourself marketable and how as an agent you can help market your client including what documents are needed.
Leasing check-list for tenants and businesses.
The duties and responsibilities of the agent representing the Landlord.
The duties and responsibilities of the agent representing the Tenant.
This lecture discusses the different types of listing agreements and the reason why disclosing dual agency has become more important.
Sample Listing Agreement from AIR.
Sample Agency Disclosure from AIR.
The process of submitting the offer on a commercial property starts with the Letter of Intent or LOI.
Should I offer the asking price? Is the offer process the same as a residential offer? Here we discuss all the factors that make determining the offer price for a commercial lease transaction different.
Use clauses are an important component of leasing properties as it describes what a tenant/business is allowed or not allowed to sell. We will detail the importance of the use clause including exclusive use clauses here.
How long should my lease be for? And is an option a good thing to have? We will answer questions such as these including what is the difference between an initial term and an option to extend the lease, and what is common in the industry based on different property types.
Concessions we will cover include Tenant Improvement Allowance (TI Allowance), Free Rent, and Landlord's Delivery of the space including why these are key negotiation points for any lease transaction.
Because you probably wanted to know about the Security Deposit requirements. This lecture will cover how it differs from a residential deposit. This lecture will cover the difference between residential v. commercial and other factors.
Sample Letter of Intent (LOI) template.
This lecture discusses the different common lease forms and when they are used including Landlord forms and forms prepared by AIR.
I wanted to leave you with some key insights and takeaways on tips and tricks for lease negotiations.
You've negotiated the lease and now what? What do you need to sign the lease? This lecture covers the process of signing the lease, what you need in order to get the keys to the space, and what to watch-out for once you've moved in.
Sample NNN Lease.
So you want to make money as an agent representing owners and tenants right? Here we go a bit deeper in discussing how commission calculations can be variable depending upon the type of property or use is being negotiated.
How are leasing commissions calculated differently than a residential property purchase? Using case studies we use a little math to breakdown each step showing why commissions for leasing commercial real estate can be variable.
Invoice template when submitting an invoice to collect commission payment.
Heather is the Principal of Estate Match Realty, a real estate strategist, commercial real estate broker and instructor at UCLA Extension. She has held prestigious positions with companies including Colliers International, American Commercial Equities, and American Homes 4 Rent in brokerage, acquisitions, and asset/portfolio management.
Heather is an active member with many real estate organizations including Commercial Real Estate Women (CREW-LA), International Council of Shopping Centers (ICSC), and is Vice Chair of the Southland Regional Association of Realtors (SRAR) Commercial Division and Chair of the Education Subcommittee. Heather hold a real estate Broker’s license, and is a UCLA alumna with B.A. degrees in Communication Studies and Political Science.