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Commercial Real Estate in Key West & the Florida Keys by RE/MAXCommercial Real Estate in Key West & the Florida Keys by RE/MAX

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Three Ways To Promote a Healthy Rental Culture For Commercial Tenants

What is a man or woman’s word? Is it worth anything anymore? When you are working in commercial Real Estate, you can guarantee that your name and whether you keep to your word will get around really fast. Sometimes people will say untrue of unfair things, but that will quickly be overcome by all of the positives if you are a consistently dedicated and ethical commercial business building owner. Keeping your word is what makes your business – so make sure you are known as someone who is fair, ethical, lawful, and approachable. Nobody wants to have to “lay down the law” with their tenants, but it’s an absolutel must to protect your name, legal interests, the safety of others, and your reputation.

Three Ways To Promote a Healthy Rental Culture For Commercial Tenants

  •  Know the Laws and Follow them
  • Keep the building up to safety Codes
  • Conduct Regular, Planned, Announced Visits

It’s hard to follow the laws of rental property if you don’t know what they are. They county courthouse Is a good first place to stop to make sure things are up to date – all permits are within regulation, nothing is expired, and there are no taxes that need to be paid, etc. It’s a good idea to strike up a friendly relationship with your county courthouse clerks – that way they are likely to alert you immediately if there is a problem. Its always a good idea to have legal counsel on retainer, particularly if you own a lot of commercial real estate or rent out commercial real estate that may be prone to lawsuits (nightclubs, athletic endeavors, etc.) The time you save by being able to call and attorney and ask a question is well worth the money you spend. Make sure you are never discriminating against anyone in a protected class. In short, be the kind of person you’d want to do business with.

Don’t scrimp on safety. It never works out, and it always reflects poorly on the owner. Make sure the smoke detection system is working, the sprinkler system is working, the fire escapes are clear, promptly respond to any complaints, especially involving plumbing, heat, or other thins that could be harmful. Insist on a no smoking building (you can designate a smoking area away from the door, according to your state’s laws) but be non-negotiable about it. Invite the local fire department to come visit your building. Most are happy to do so and may find hazards you didn’t know you had.

Nobody likes a surprise visit from the owner- not even a commercial business. Make sure you announce two weeks in advance what date you will be stopping by and the approximate time. You don’t want your tenants to be afraid or feel like they can’t tell you things. When you arrive, don’t reprimand anything in front of customers or workers. If there’s something you noticed that must be addressed, put in writing and send it to your tenant, then schedule a meeting face to face to address it. Always aim for a cooperative type relationship that encourages openness and honestly on both sides. Keep your word, and hold your tenants to theirs.

In the meantime, check out these 1-click searches:

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Newest Key West Commercial Properties on the Market

Listed $50,000 under appraised value. Rare opportunity to purchase the Historic 7 Mile Marina less than a mile from 7 Mile Bridge with over 360ft of US-1 frontage! Commercial property consists of protected marina, 3,600 sqft building. Marathon approved transferable building rights allowing 9,332 of commercial floor area, two tax keys totaling +/- 54,768 sqft or 1.25 acres. Property being sold ''AS IS'' no warranties or representations and no leases. Includes a deed restriction for neighboring property not to store straps within 75 ft of NE property line. Prior to 2014 fire, property had a 150 seat restaurant and office. $3,150,000 Active

1090 Overseas Highway MARATHON, Florida

2 Baths

Here is your chance to own a turnkey restaurant property in paradise! Recently updated and renovated, this restaurant property is a staple to the local community.PRIME US1 FRONTAGE, Average daily traffic is over 16,000! Total of 168 seats, qualifies for SRX license, and offers tons of parking on the 20,000sqft lot. This property is ready to go, don't miss this opportunity! $995,000 Active

31044 Avenue B Big Pine, Florida

3,252 SqFt

$15,000 startup grant available to an energetic formally trained chef with innovative ideas & ready for their big break to start their own restaurant.  Key West restaurant/bar location lease for only $5000 mo!  There's an amazing concentration of residential addresses nearby, with several larger ocean front condominium complexes & hotels just a few blocks away, for a lucrative takeout business or to fill your seats. You can't beat the price when comparing to other Key West properties that offer a restaurant/bar opportunity. With a 2600+ sq. ft. building, the location offers high visibility in the cross town area of Key West zoned for a 79 seat restaurant/bar with beer & wine sales. Huge kitchen & prep area, walk in cooler & freezer, large storage room/office/casual area & 3 restrooms. Property must operate as a restaurant with a beer and wine license. Triple net lease with F/L/S. Tenant to verify all information. 
 
To participate in the grant, proof formal culinary arts training and Key West residency (minimum of 2 years) absolutely required.  Grant is for rent payment for the first 3 months rent. 
 
A member of the LLC is a licensed Florida real estate agent. 
$5,000 Active

1500 Bertha Street KEY WEST, Florida

3 Baths 2,646 SqFt

Commercial building for lease, TRAFFIC LIGHT CORNER, location next to main intersection in Big Pine Key on the Overseas Highway in the Lower FL Keys outside of Marathon & Key West. Serving a radius of over 30 miles north & south, SC zoning. Ideal for office or retail with approx.~3251sf of space. Current office buildout has 8 private offices with barn doors, open and bright reception area, conference room, storage, plenty of off-street parking with easy to access and excellent visibility. $4,877 Active

30362 Overseas Highway Big Pine, Florida

1 Baths 3,251 SqFt

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Posted in: Business Solutions, Buyers, Buying Commercial Real Estate, Coworking, Landlord Rights, Leasing Commercial Real Estate, Owning a Business, Renting Commercial Real Estate, Sellers Tagged: Commerical Tenants, How to manage Commercial tenants, legal concerns for commercial real estate

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Key West, FL 33040

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98880 Overseas Hwy.
Key Largo, FL 33037

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