How long will it take to rent my space?
The answer depends on a number of things from the location, type of business, the economy, the rental price, and time of year. Commercial rentals take longer than residential because it is a big financial commitment, there are usually improvements to be done, and once a business is established, moving is inconvenient.
What do I do about the commercial space utilities?
Please leave all utilities serving the property on. They will have the tenant put them into their name the day they move in, and they will all revert back into your name if the property is ever vacant.
Who is responsible for maintaining the premises?
The tenant is not required to maintain the parking lot or external space, but it depends upon the lease.
How often does Windermere Property Manager go inspect the property?
Visual exterior site visits of the commercial space are done quarterly. Internal Tenant Improvements are their responsibility and we do not visit the interior unless there is a maintenance issue that may affect the entire building.
What is the reserve deposit for?
This is held in our trust account for incidental repairs. This money is simply “just in case” money. When something small needs to be fixed, we already have the funds available. You will be notified of the repair (via an emailed work order) so it is not a surprise to you when you get your monthly statement.
How are maintenance repairs handled, and how do I pay them?
Tenants notify us directly of major maintenance issues that affect the usability of the entire premises. We then send the work order to the vendor, the tenant, and to you, the landlord. This ensures that everyone is on the same page. We pay our vendors at the same time we pay our owners. We pay them with your rent proceeds (unless it’s a major repair).
Do you have a list of vendors you normally work with?
Yes, Windermere Commercial Management has an in-house maintenance staff that handles those emergency and smaller “non-bid” repairs. We also utilize trusted, local vendors who have proven their reliability.
Can I put parameters on who gets to rent my space?
Yes and no. You can establish non-competing business policies, such as restricting the number of coffee shops. Credit, past rental history and ability to pay are major criteria to determine whether or not a tenant may be approved. We do extensive background checks and utilize major credit bureau reports.
Are the tenants required to carry business insurance?
Yes, we do require all tenants to carry business and liability insurance.
How and when will I get paid as a landlord?
We transmit the rent via electronic deposit monthly.
How much is the tenant’s damage deposit?
The deposit can vary depending upon the type of space, the work to be done, the tenant and other factors.
What happens if the tenant damages the premises?
Their damage deposit should cover it. We conduct thorough move-out inspections. We compare that inspection to the move-in condition report and then make any necessary repairs. It depends upon what improvements and construction has occurred and if the changes are useful for future uses of the property. Since future tenants generally remodel anyway, it depends upon the extent of the changes to the space.