[iframe src=”http://www.reviewitmagazine.com/newsletter/2017/eblast/JBeard/Spring/” width=”100%” height=”900″]
The Landlord and Tenant Relationship – What Is It?
You pull into a strip mall nearby looking for the new gift shop you have read about. Your eyes scan the landscape of various storefronts. There is a dry cleaner, veterinarian, bakery, dentist and a sandwich shop. There it is – you see a new gift shop in an old space where there once was a clothing boutique. What do all of these different businesses have in common? They all operate through a landlord-tenant relationship. Now you probably see “Retail Space for Lease” signs all over the place. We can confirm that Houston, Texas has a large amount of them, but what does it mean? This is a lease which transfers the right of possession of property from the landlord, referred to as the lessor, to the tenant, referred to as the lessee. The lessor gives the lessee the right to use the space and/or property but still retains ownership. In doing so, the lessor receives rent as compensation from the lessee. What do all of these different businesses have in common? They all operate through a landlord-tenant relationship. This is a lease which transfers the right of possession of property from the landlord, referred to as the lessor, to the […]
“Buy land, they aren’t making it anymore.” – Mark Twain
Land, as far back as anyone can remember, has been considered a most valuable commodity – an idea Mark Twain captured in his simple quote, “Buy land, they aren’t making it anymore.” Here in North Harris County, Montgomery County, and most of the Greater Houston area, real estate participants are embracing Twain’s philosophy and buying land at a substantial pace. The amount of land sale activity is no surprise considering local market conditions. The area’s rapid employment growth, pro business environment, and the quality of life for Houston residents all influence the real estate market and work to create desirable land opportunities. Major developments in the area, like the new ExxonMobil corporate campus, will continue to fuel demand for commercial land in the foreseeable future. Why this land site and how is it valued? Land owners, commercial real estate investors, and property developers always ask the question, “What can my site be used for and what is it worth?” The Highest and Best Use is determined by what land use will generate the greatest cash flow and value for that property. Highest and Best Use is influenced by the basic concept of supply and demand. Supply represents how much the market […]