All Forum Posts by: Greg W.

I had a brand new rubber roof put on a building I have, in September of 2017. The roof leaked the 1st time there was rain.  The roofing company came out at least 3 times (about every month) to do repairs and leak never stopped. 

This year they became unresponsive and I finally reached out to their insurance on the COI. The roofing company ended up calling me and asking if I can meet and walk the roof with them. Later this day their insurance messaged me,  almost immediately in defense of roofing company. I got the vibe that they aren't trying to help but find a reason to not be liable. 

My biggest concerns are 

1. I have interior damage from water getting in. 

2. Even if they fixed it now,  I believe the repairs will compromise the life of the rubber roof and I'm no longer getting what I paid for. 

What are my options for a good outcome with this?  I would love to hear any thoughts. 

Thank you, 

Greg

I have not, is there a monthly cost?

Hi,

I recently signed a new 3 year lease with a commercial tenant and included that she pay water bill. I recently found out that her water meter is linked to a couple residential units.

How would you handle this? I plan to credit her 66% per month, the months she paid the bill. Is this fair? How would you handle this water bill moving forward? I will pay bill but should I add a percentage of it to her rent or should she no longer pay anything towards water?

Thank you,

Greg

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Commercial Real Estate Investing Forum No Replies

Greg W. from Chicago, Illinois

Hi,

I recently signed a new 3 year lease with a commercial tenant and included that she pay water bill. I recently found out that her water meter is linked to a couple residential units.

How would you handle this? I plan to credit her 66% per month, the months she paid the bill. Is this fair? How would you handle this water bill moving forward? I will pay bill but should I add a percentage of it to her rent or should she no longer pay anything towards water?

Thank you,

Greg

Hi,

I recently signed a new 3 year lease with a commercial tenant and included that she pay water bill. I recently found out that her water meter is linked to a couple residential units.

How would you handle this? I plan to credit her 66% per month, the months she paid the bill. Is this fair? How would you handle this water bill moving forward? I will pay bill but should I add a percentage of it to her rent or should she no longer pay anything towards water?

Thank you,

Greg

 The lease states i am responsible for the roof and tenant takes care of maintenance inside unit. The tenant has asked me for reimbursement but my insurance doesn't want to cover it.

Hi,

If there is weather related damage to roof and a commercial store tenant is forced to close, who's responsible for reimbursing the tenant for loss? Building owner? Building owners insurance? The Store owner's insurance?

Thank you,

Greg

Hi,

I have a situation where I had the seller carry a note at 2% for a few years. Seller told me he had recently purchased a new roof and I got on the roof and it looked good..then I did (what I've learned now) the ultimate no no and didn't get an inspection.

After closing, the commercial tenant told me the roof has had multiple issues and the seller continued to ignore her. It has since given me issues, until I just ended up replacing it, which was expensive.

My question is, with it being a year later, do I have a right (legally or morally) to request compensation from seller now, since the seller lied to me about roof? I would ask the seller to adjust what's owed to him when i pay him off soon, with refinance. Please give your opinion on what you would do. Obviously, this has been an expensive lesson for me and I'll never buy without an inspection again.

Thank you,

Greg

Hi,

I have a situation where I had the seller carry a note at 2% for a few years. Seller told me he had recently purchased a new roof and I got on the roof and it looked good..then I did (what I've learned now) the ultimate no no and didn't get an inspection.

After closing, the commercial tenant told me the roof has had multiple issues and the seller continued to ignore her. It has since given me issues, until I just ended up replacing it, which was expensive.

My question is, with it being a year later, do I have a right (legally or morally) to request compensation from seller now, since the seller lied to me about roof? I would ask the seller to adjust what's owed to him when i pay him off soon, with refinance. Please give your opinion on what you would do. Obviously, this has been an expensive lesson for me and I'll never buy without an inspection again.

Thank you

 Thank you Eric! This is what I was looking for. This is my first commercial property (others are residential) and I'm learning a lot.