All Forum Posts by: Mike Giudici

Jon Klaus 1. The system is manufactured off site at the factory, eliminating 90% of field seams 2. It's a white roof, which can lower utility costs 3. It's resistant to grease / oil, unlike rubber membranes 4. Reinforced with fiberglass 5. 15-25 year warranty 6. Very cost effective 7. Can be installed over other roofing systems without the need for a full tear off

I manage a 20 property commercial portfolio in metro Detroit and love it!

Do you feel it's a value add opportunity? If so, contact the owner and see what it would take to sell. Mike

I have experience with several foam roofs. For the most part they are an OK system, definitely less traditional than a rubber membrane or a built up tar/paper roof. For maintenance, it's a good idea to have someone check them every year. They can get bubbles in them if water penetrates the system. Birds also peck at it causing little holes. Every 10 years or so it may be necessary to "mill" the surface and reapply a new top coat. The downsides are You're in trouble if you ever need to do a full tear off and not a lot of contractors know how to properly install/repair them. Is there any reason why you are looking at foam vs a membrane based system? I am currently doing a roof in a product called dura last. The stuff is fantastic! Hope this helps. Mike

Typically NNN Charges are estimates based the properties current year budget, and in most cases are billed/paid monthly and reconciled at the end of the year.

What type of lease is the Tenant in? Are they m2m? Up for renewal? The market should dictate the rent.

It's unfortunate the LL won't work with you on this one. I would call a local broker and verify the current market rate. A 22% increase over 12 months is a bit of a stretch.

Alternately, does this lease provision apply to renewals only, or does it apply to terminations as well?

Typically commercial leases will simply terminate, or a holdover rate will kick in, which is meant to force a Tenant to make a decision on staying or vacating. It's strange that it would automatically renew without some sort of renewal option in the lease.

With retail type properties, a full service manager would likely charge a fixed rate, or 4-6% of the properties income. At approximately 5%, the fee is a bit high for what your cousin is currently doing.

one week should be plenty for something like that.

I manage commercial office properties and have had many cable companies bring their services into the buildings at no cost to the owner. They want to expand their infrastructure. What they usually want to do is walk through the building and lock up service contracts with the Tenants. This way they will recover their initial investment. If Comcast wants to charge, forget about them and find another provider who will work with the owner.

From an ownership perspective, the more infrastructure the building has, the higher the value and the more desirable it becomes to the existing, and prospective tenants.

Hope this helps.