Altra Federal Credit Union’s Post

What's happening with the UK modular market??? 💣 Last week, #Lighthouse went under, #TopHat's factory in Corby is being put on 'on ice', and today #BeetiePassivehouse filed for administration. What a challenging time for the UK modular market. #MMC #MadeGlobalWorks #disruptmodularthinking https://lnkd.in/e2WiAsw6

5 critical lease clauses (ignoring these will impact your bottom line) 1. Rent Escalation Clause → Allows your landlord to increase rent annually → Often tied to a fixed percentage or the Consumer Price Index (CPI) ↪ TIP: Negotiate a cap on the annual increase to keep costs predictable 2. Common Area Maintenance (CAM) Fees → Fees to cover the maintenance of shared spaces  → Upkeep of lobbies, building security, parking lot care, etc. → CAM fees can fluctuate and significantly increase your expenses ↪ TIP: Request a cap on CAM increases or a detailed breakdown of fees to challenge extra charges 3. Renewal Clause → Outlines terms for lease renewal, including rent increases → If you don’t review carefully, you could get locked into an unfavorable lease ↪ TIP: Negotiate the right to renew at a fair market rate and include conditions for renegotiation   4. Sublease and Assignment Clause → Restricts your ability to sublet or transfer your lease → Can limit flexibility if your business needs change ↪ TIP: Seek terms that allow for subleasing or assignment with reasonable conditions for landlord approval 5. Early Termination Clause → Penalties for leaving your lease early can be quite severe ↪ TIP: Negotiate terms that offer flexibility, like a break clause with reasonable notice and penalties  … Find these tips helpful? Follow me for more #CommercialRealEstate tips and tap the bell (🔔) so you never miss a post! … #LeaseRenewal #CRE #RentEscalation #CharlesPeacock #CommercialLeasing

How to Retain a Great Tenant

How to Retain a Great Tenant

How to Retain a Great Tenant

How to Retain a Great Tenant

The wrong people won’t follow the rules, no matter how clearly stated Our church meets in a business park and this truck belongs to another business here The landlord didn’t like the truck parking in this spot So he put down paint and a no parking sign Now instead of taking up five parking spots, the truck is blocking the road Every Sunday I pass this and it reminds me No matter how many rules and SOPs you put into place, some people won’t follow them That’s why it’s so important to work with the RIGHT people If you have the right people on your team they will do the right thing You don’t have to micromanage them and give them every detail Focus on finding/hiring the right people, instead making 100s of rules for people to follow

Bridging speed is down to the collaboration between the lender, broker, client and professional partners. In this reel, James Moore from our post application team shares some tips on how you can maximise the efficiency of your application with Glenhawk #Bridging #application #speed #packaging #property #residential #permitteddevelopment #planning #pdconversions #auction #BBR

I drove 6 hours for a 30 minute meeting last week. And I’m SO glad I did, because it turned a very negative situation around. Last year I bought a sourced property (buying a deal someone else has found and packaged); a 3 bed house to be converted to a 5 bed. It was meant to be a hands off property development for me, and largely it has been. Apart from this fairly major issue. The property already had a large loft conversion but it turns out that the amount of floor space above the height requirements for HMO rooms fell short by 48cm. So being told my only solution was to spend £10k on a dormer was my only solution, to achieve 48cm, was not welcome news. Especially with the cost of hold ups this would cause. But - hope - the HMO officer was doing an afternoon of inspections with the builder and I decided to join the 30-minute slot at my property. Thank god I did! Making that connection with the officer, showing my intent with the property and integrity as a landlord and putting in the effort to show my face all lead to us finding an alternative solution. Much cheaper and quicker to achieve and still meeting regulation. So many lessons here: - always go in person for contentious issues. There’s a lot to be gained looking into the eyes of the person your working with and explaining your plans in person. - work WITH your council. The officer in question here was hands down the most collaborative and fair council member I have worked with in any council, ever. Luckily. - knowing your regs inside out will help you get creative and find solutions. I have learned many other lessons through this deal around keeping control, what to outsource and a whole nother level of due diligence, but that’s for another day. Now I need a joiner to build some under-eaves storage near Wakefield - any recommendations very much welcomed, please! #propertychallenge #regulation #relationships #showup

I see industrial business owners build new buildings for their specific use all the time. (And I love it) That said, they often neglect crucial elements (to save a few bucks) that another user down the road might need. What I see the most: - low clear heights - limited power - tight truck court - no docks (this one kills me) Is there a cost to building out these components….yes Is there a cost to not building out these components…. Yes (and it’s greater over the long term) The business might be going well right now, but at some point you might decide to hang it up. Never had someone walk into a 30’ clear box with an adequate truck court and heavy power and balk. Just sayin…