Inventory

aboutready can you let me know whether one can break a lease by giving two month advance notice. What are the legal ramifications if any if one does?

Mel I was wondering what your opinion on this was. Kylewest you can also get involved as well.

A lease is a lease or contract. Unless it allows for 60 days notice, the Tenant will still be responsible. It works both ways, if the Landlord was able to give 60 days notice it would not be fair to the tenant and of course why then have a lease at all. I am not an attorney but have been managing property for over 25 years both residential and commercial and have seen this where a tenant want out and the Landlord wants the tenant out. Just usually doesn't work that way. I have made arrangements with Tenants who want out so everyone ends up being pretty satisfied but it does not work all the time. Spunky from what I gather you are a landlord, figure this would have come up before.

csn thanks just out of curiosity from your experience which have you had the least of problems, commercial or residential?

Spunky, there is no doubt that commercial is easier and just less complicated. To turn over a commercial space compared to a residential space is almost extreme. To change a tenant in commercial, clean-up, paint, repair, carpet, whatever needed could do in 1 to 3 days. Residential could be up to a month. On the commercial side mostly dealt with office space, not storefronts. Very easy to find new tenant, at times had waiting lists or people calling to just find if there were any vacancies. Dealing with business owners overall is a better experience.

thanks csn I've never owned commercial but will be looking into it just for diversification purposes. Where abouts do you manage commercial?

Spunky, actually was out of all real estate by March 2007. Just went back in with ....... residential, new construction and have 2 more on the way closing late summer, early fall. See how these go. Commercial was on LI, little harder to rent than in NYC. As usual, location.

Spunky, go have a brewskie and shut up. How's citi? Or have you broadened you investments to WaMu, BofA and mbia?

aboutready now now I hope you nicer than that when you represent your clients in a court of law. BTW I do think you would give Mel or Kylewest a run for the money in the courtroom.

Spunky, maybe I would or maybe I would not (as I'm just a SIMPLE stay-at-home mom, who knows?). My husband, who is absolutely incompetent in matters other than the law, could take on just about anyone. Competencies can be unexpected, but often incompetencies are transparent. (although often ignored.)

Does anyone know what the weather is going to like tomorrow?

I meant to ask does anyone know what the weather is going to be like tomorrow?