Unlocking the Mystery Between Usable vs. Rentable Square Feet

The difference between the usable square footage and rentable square footage can be a determining factor in selecting the most efficient office space for the location of your business. One the of questions tenants have about their commercial lease is: Why am I paying rent on more space than I occupy? Tenants frequently misunderstand the concept of usable square footage vs. rentable square footage. Mazirow Commercial, Inc. demystifies the two terms to help you better understand what you are … [Read more...]

How Do You Get Your Security Deposit Back?

Some landlords are notorious for keeping a portion of office security deposits to cover the costs of repairs and outstanding rent. Most office leases note what a tenant must to do to get a full refund of your security deposit. Mazirow Commercial suggests the steps you should take to get your money back at the end of your lease. … [Read more...]

2018 Commercial Real Estate Trends

Commercial real estate trends have revealed a new live-work-play lifestyle that is taking precedence in the Greater Los Angeles Area and Ventura County. Amazon has also been trying to find a new location for their second headquarters, HQ2. In this month’s blog, we discuss the new live-work-play real estate shift in the industry and where Amazon’s new headquarters might be moving.   The Live-Work-Play Lifestyle   The idea behind the live-work-play lifestyle is that you can do … [Read more...]

Lease Renewals: What is Fair Market Value?

As a business owner, you are not expected to know competitive rents, concessions, or what the fine print entails in your lease – landlords take advantage of this. When renewing your lease, how are you supposed to know what is considered fair market value? Does your lease contain an “option to renew” clause at fair market value (FMV)? Mazirow Commercial, Inc. discusses what fair market value is and the variety of factors that influence it.   What you don’t know will cost … [Read more...]

How is Commercial Office Space Measured?

Do you know if you are overpaying for your lease based on the space in your commercial building? Most tenants are unaware if they are overpaying because the guidelines for measuring commercial space are developed in the landlord’s favor, not the tenant’s. How do you measure commercial office space to know if you are being fairly charged or paying for a lost use of space?   The Guidelines There are two elements in measuring commercial office space: useable space and rentable space. … [Read more...]

Don’t Call The Guy On The Sign!

Imagine being sued for a business issue, who are you going to call to settle the claim, the plaintiff's attorney? Probably not, you are going to seek your own representation to understand the claim and to settle the matter to your greatest benefit. Yet every day well-meaning tenants call their landlords broker or the person on the building sign to negotiate their new lease with a minimum of knowledge of the current market or alternative options.California law still allows Dual Agency, but the … [Read more...]

Reconciliation of Operating Expenses and Estimates Statements

It’s the time of the year again when Tenants receive their Reconciliation for the past year and Estimate Statements for the current year for the operational costs for their office building from their Landlords.   Office leases are generally structured as a Full-Service Gross (FSG) lease or a Modified Gross lease (MG) that allow for Landlords to “pass-through” the increase in costs of operating their office building over the first-year’s operating expenses, which is included in the … [Read more...]

How To Get Your Office Security Deposit Back

  Customarily, commercial leases will detail how the tenant is supposed to prep the premises upon vacating as well as how to return items such as keys. It is important to carefully review the terms of your office lease as such information is often found under different, often misleading subsection headings, including Vacating of Premises, Possession of Premises, and Expiration of Lease. Information regarding security deposit refunds may also be scattered throughout the lease – so, again, … [Read more...]

Enjoy the Tenant Appreciation event? You, the Tenant, Paid For It!

  While you, the Tenant, may be excited that your Landlord has thrown a shindig just for you and your commercial neighbors to express their appreciation for your loyalty, don’t thank your Landlord just yet. More often than not, the cost of throwing a “Tenant Appreciation” event is hidden within the operational costs you agreed to pay each month.   Don’t let Landlords distract you with perks that you’ll end up paying for anyway. Instead, keep reading to educate yourself on … [Read more...]

The Startup’s Guide To Leasing Commercial Space

As an up-and-coming entrepreneur, you probably have your hands full. There are seemingly infinite hurdles in the first few years that could mean the life or death of your startup. And starting your own business isn’t for the weak – Elon Musk equates it to chewing glass. Yikes.   With so much on your plate, finding the perfect location with reasonable lease terms should be the least of your worries. That’s why we put together this short guide on what startups should consider when … [Read more...]