There are many Oklahoma residents who own commercial property or who are interested in owning commercial property. Owning real estate can lead to many different legal issues for property owners. It is important to have an attorney who has experience in commercial real estate to offer their advice.
As a commercial real estate owner in Oklahoma, one of the most important things you can do is speak with an experienced attorney who can help make sure you are protected if a property manager fails to perform a job. There should be a crystal clear understanding by both parties as to what each are responsible for, and all of these agreements should be in writing.
Commercial real estate transactions are in a league of their own. As opposed to a simple residential real estate transaction, they present unique and complex issues that may necessitate the assistance of a commercial real estate transaction attorney.
As certain areas of Oklahoma continue to grow, maybe you consider developing commercial property in an area where doing so makes sense. You will more than likely begin looking for tenants who want to take advantage of the business opportunities in the area.
Estate planning is constantly evolving in Oklahoma and across the United States. Revisiting estate plans that were created years ago is always a good idea. Digital property assets are the latest addition to estate plans that are very important for Oklahoma residents.
Franchise owners in Oklahoma have many regulations by which they need to abide. Franchises have extensive contracts and other rules that owners must follow. A franchise association can help franchise owners learn the ins and outs of a franchise and work out the kinks of their business. Qdoba franchise owners recently formed a franchise association.
A real estate investor in Oklahoma will have a number of hoops to jump through in order to see their project to their ultimate goal. Some of these hoops may involve permissible real estate land use and related issues. For instance, at a recent meeting among the government leaders of Nichols Hills, a community bordering Oklahoma City, discussed how they might better be able to preserve the historic character of the neighborhood.
Although this blog has discussed purchase transactions involving commercial real estate in pervious posts, it is important to remember that, for a variety of business and other reasons, many Oklahomans choose instead to lease a property for their business's use. Like the terms of purchase agreements, the provisions of a lease are important both to a commercial tenant and to the landowner, and they can mean the difference between and good and bad financial outcome for either party.
Although buying a piece of land or a building for business use or development is in many respects similar to buying a family home, in other ways, it is quite a bit different and, in many respects, much more complicated.
Two real estate investors have purchased a major Oklahoma City outlet mall from the mall's developers to the tune of $130 million. The developers indicated they sold so that they could invest in developing other projects in other parts of the country.