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Hollywood Real Estate Law Blog

How big is that rentable area?

When looking for a new commercial space, the actual floor space that you get is important. Not only may it define how you set up your business, but you look at the rent through the lens of what you pay per square foot.

This can get tricky, though. Landlords and tenants may not have the same thing in mind when talking about "rentable space." In fact, some experts warn that most leases really only give you access to 75% to 90% of the area that is listed in that lease.

1031 exchanges and estate planning

1031 exchanges are a great way for real estate investors to defer taxes on properties that they are buying and selling. Simply speaking, 1031 exchanges allow investors to "swap" properties, which means that they are able to defer the capital gains taxes that they would have owed initially on the first property.

There are some terms that need to be satisfied in order for an investor to legitimately engage in a 1031 exchange. One of the key terms is the necessity of participating in a like-kind exchange. This means that property that is exchanged should be used for the same purpose, whether residential, commercial or otherwise.

Tips to consider when investing in property

Buying property, especially your first property, can be overwhelming. There are a lot of financial and legal steps to manage. You’ll also need to consider location, the housing and economic climate, the amenities your renters will be seeking among other pitfalls and opportunities that may arise.

Does your lease include rent increases?

When you sign a commercial lease, it is very important that you understand exactly what obligations you have and how the deal may change over time.

For instance, many people sign short-term leases for just a year or two, and have an option to renew the lease at that point. This gives them the confidence that they can keep the space if they want it and if it's working out, but they're not obligated to stay for five or more years if the business goes south. That freedom can be very convenient for new businesses.

Contingencies can get you out of a real estate deal

When you enter into a real estate transaction, you have to sign a contract. However, you may find yourself wishing you could get out of the deal. In some cases, you can, but it's often important to have contingencies.

These contingencies are essentially requirements that must be met for the contract to be legally binding. Some of the most common ones in a real estate purchase include:

  • The house has to pass the inspection.
  • The house has to appraise for the appropriate value.
  • The buyer has to get approved for the loan.
  • The buyer has to review the property disclosures and agree to them.
  • The buyer has to see other mandatory reports.

Key details when choosing a new store location

You're interested in opening a second store. You know that your business model works because it has been working for years. But you don't want to count on that alone. With your second store, you know that it's important to find real estate at the perfect location.

But how do you do that? As much as people say things like "Location, location, location," they often do not tell you that the ideal location is different for every business. You need to find the right one for your company. A few key things to consider include:

  • The total population in the city and what the population trends look like
  • The overall size of the trading area within the city
  • The zoning regulations in your preferred area
  • The general geographic expansion in the city and what direction it's moving in
  • The condition and appearance of other properties in the area
  • The type of competition you face and how many competitors there are
  • How aggressive that competition is and what type of quality it offers customers
  • The retail potential in your line of work
  • The type of traffic you get and the accessibility of the area
  • Any growth in traffic and sales in that area
  • The demographics near the potential storefront
  • Customer attraction power

5 tips for new Florida landlords

The closer you get to retirement, the more you may question whether your nest egg is large enough or if you’ll need to find a supplementary income. For many Floridians, the answer is that they would rather add to their income than live on tighter budgets, and a good number of them end up investing in rental properties.

According to Forbes magazine, the Sunshine State ranks among the best places in the nation to buy rental properties. This owes to a mix of high renter interest, low property prices, low taxes and reasonable insurance rates. If all goes well, you can find a property, buy it and fill it with tenants in short order, but there are a few things you should know before you get started.

Is a triple net lease right for my business?

Choosing the appropriate property lease will be a key component in determining your business' success or failure. Therefore, it is important that you take your time in choosing the best option for your specific circumstances.

Business leases can vary widely in terms of what they include, how much they cost and how long the terms last. Owners of a new business tend to want to avoid complex financial hassles, but they may end up paying more in the long run due to this. If you are considering signing a triple net lease on behalf of your company, it is important that you understand the pros and cons associated with the agreements.

How can I avoid capital gains tax on a Florida property?

If you are starting to be successful in property investment, you will know the rush of being able to buy and sell property for a profit. However, one major hurdle for property developers is capital gains tax. This tax can severely impact the amount of profit you can make by flipping properties; therefore, it can disincentivize investors.

If you are getting started in property investment in Florida, it is important to understand the opportunities that you have to avoid or reduce capital gains tax. By implementing certain strategies, you may be able to increase your profit margins significantly and make more fruitful investments in the future. The following are some ways in which you may be able to do this.

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Suite 200
Hollywood, FL 33021

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