Residential Real Estate
When it comes to the most important transaction of your life, make sure you hire a trusted Realtor who will advise you and ensure a smooth transaction. Most Realtors focus on the residential real estate market, but it takes experiences, skills, and in-depth knowledge to ensure a smooth transaction. Expert advisors are available at Grace Realty for all your real estate needs in Austin & surrounding areas.
Commercial Real Estate
Commercial Real Estate refers to buildings or land intended to generate a profit, either from capital gain or rental income. Commercial properties include office buildings, medical centers, hotels, malls, retail stores, farm land, multifamily housing buildings, warehouses, and garages. We are well-versed in commercial real estate throughout the Texas Hill Country.
Types of Lease Properties
There are several types of commercial lease options available. Let’s touch on a few of them.
A full-service lease is used primarily in multi-tenant office buildings. In essence, lessees who agree to such arrangements pay a single lump sum for a wide range of supplementary services in addition to the lease payment.
Under the terms of a gross lease contract, the lessee pays the lessor a gross amount for rent (as well as sales tax when applicable). Property costs such as property taxes, insurance, and maintenance are the landlord’s responsibility; the tenant is responsible for utilities. Sometimes the lease contract will include provisions that require the tenant to cover property costs that go over a certain specified level.
Under the terms of a net lease, the tenant pays the landlord a base rent plus an additional sum that covers the tenant’s share of property taxes. When taxes increase, it is the tenant’s responsibility to cover those costs. The obligations of each tenant are figured by determining what percentage of the total facility is occupied by each tenant; thus a tenant occupying 20 percent of the facility pays 20 percent of the increase.
This calls for tenants to pay a base rent and/or a percentage of the lessee’s gross revenue. This percentage, which can run as high as 10-12 percent in some contracts, is paid on an annual, semiannual, or quarterly basis (some malls and shopping centers, however, call for even more frequent payments). This arrangement is a favorite of lessors with property in coveted retail areas; tenants are less favorably inclined, but the laws of supply and demand often make it possible for owners of desirable property to insist on it. Small business owners should fully understand what the contract defines as “gross revenue.”
Residential Leases & Rentals
This is a good option for families when they first relocated to a new city. A residential lease arrangement can be held with an apartment complex, condominium or house that is for rent or lease. There is a slight difference between renting and leasing. While both agreements are similar in nature, they are not the same and it is important to understand the differences.
A lease agreement is a contract between a landlord and a tenant that covers the renting of property for long periods of time, usually a period of 12 months or more.
A rental agreement provides for a tenancy of a short period (often 30 days) that is automatically renewed at the end of the period unless the tenant or landlord ends it by giving written notice. Unlike a rental agreement, when a lease expires it does not usually automatically renew itself.