AI can't help it. Every time I hear "September" it is burned in my head the song by Earth Wind and Fire called September. This catchy number dates me but once you have heard it, the memorable lyrics just do not go away (Ba de ya de ya de ya). Before we get down to business, lets get in the mood of the new month.
Every year we take all of our notes, case studies, and memories, and put our heads together to see if our lease needs any updates. This year, we looked at the lease and saw a document that this process had built over the last 20 years into a little jumble of clauses. Good clauses, but a mesh of things that really needed better organization. In the process we also made a few changes that we have been thinking about for a long time. Good changes.
Since the new lease, introduced in September, will only apply to new tenants or existing tenants that have had a change in circumstances, it will take a while for all the newness to get into all of your leases. Over the next few months we will highlight the changes that you are going to want to know about.
One of the most significant changes has to do with lease renewals. Every month we start contacting tenants whose lease expires 45 days out. The process of finding out if the tenant plans to renew or stay can take some back and forth. We then go to the owner and let them know the tenants intent. Then we mash everyones interest into one renewal document and get tenants signatures. If we only had 3 of these every month it would not be a big deal. But we have a lot more and the process drags on because the tenants can't decide.
I wish all of you the best and, most importantly, thank you with all of my appreciation for choosing our company.
Joel W. Wilmoth Owner/Broker WILMOTH Group
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