Owning a business can be tremendously rewarding -- and stressful. No matter how good your products or services are, there are a lot of different factors that can affect the health of your business in negative ways. You constantly have to look ahead and anticipate problems so that you can try to prevent them.
If you live in a rental unit in an urban area that's gentrifying, you may have heard of other buildings "going condo," after new management gets involved, much to the dismay of existing tenants.
Signing a commercial lease is often a more significant commitment than signing a residential lease. Typically, residential leases either go month to month or last for one year. Commercial leases, on the other hand, often last anywhere from three to five years.
In real estate, there are sometimes disputes between neighbors. Perhaps a fence is in the wrong location, or a neighbor keeps blocking another one's driveway with their vehicle. Whether it's zoning issues or problems with the sale of a property, it's a real estate attorney who can help.
With any real estate transaction, the goal is for everything to go smoothly. It's encouraged that both sides work with agents and attorneys, so they know that their contracts are legally binding.
A condominium is a property that is divided up into individual units. These units are then sold, not rented, to others. With condo properties, people who buy often have shared interests in community areas. These areas are known as common property and might include hallways, grassy areas or other parts of the property outside their homes.