Not always the right tenant mix....It's ok to say no.

I have a new Landlord who has listed her property with me and the marketing has begun. Now, amidst these challenging times, the property has sat on the market for almost a year. The first full price offer we get is from a Psychic! Well she has had a past tenant who has created some issues over the years. That tenant is a funeral home. Needless to say, adding a psychic to her already troubled tenant of a funeral home was not something she wanted to do.

I think she made the right decision. Morale of the story? Don't just take the money when you get a tenant. If possible (financially speaking) take a step back and try to look at the long term picture, you know, from 10,000 feet. This property could easily have been used more retail oriented, and gotten higher rents had she not put the funeral home in. Oh, and BTW, make sure to enlist the help of a professional commercial real estate broker. Had she done that first, she might have been in a better place today...  

By: jackstrollo | In: Leasing | Comments: 0 | On: 03/12/2012 10:01:35

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