The Different Types of Commercial Leases

The Different Types of Commercial LeasesThe Different Types of Commercial LeasesYoure ready to hang out your shingle or otherwise go into business for yourself, but you need space, a place from which to run your operation. If youre wading into the world of commercial leases for the first time, you might feel a little overwhelmed by all the different terms that are thrown about. You might be unaya what youre getting into. Those terms are bedrngnis actually as intimidating as they sound, however. Heres a chart you can use to identify the font of commercial lease youre being offered and what it means to your bottom line, along with some definitions for various terms. Types of commercial leases can overlap, so its important to focus on how rent and other fees are calculated. Types of Commercial Real Estate Leases Type of LeaseRent BasisOften Used InPercentage LeaseBase Rent + Percent of Monthly SalesRetail Businesses MallsNet LeaseIn addition to rent, tenant pays some or all of taxes, in surance, or maintenance.Any commercial lease usually favors landlords interests.Double Net LeaseTenant pays rent + taxes and insurance.Any commercial lease usually favors landlords interests.Triple Net LeaseTenant pays rent + taxes, insurance, and maintenance.Any commercial lease usually favors landlords interests.Fully Serviced Lease (Gross Lease)Landlord directly pays all or most usual costs. These costs are often passed on to the tenant in rent as a Load Factor.Office, Some industrial and retail leases. Ok, so what does all this really mean? The following is a list of some of the terms youll want to make sure you understand, and some tips to help you remember what these different leases mean when youre negotiating and thinking on your feet. Base Rent This is the very least youll have to pay each month other fees, if any, are added to this amount. Think of it as the base of a hill or mountain.Double Net Lease Double means two additional costs will be added to your base rent tax a nd insurance costs incurred by the landlord.Fully Serviced Lease Also called a gross lease, your landlord willtake responsibility for paying for most of the extras, but make no mistake, they will most likely trickle down to you as a load factor. You can think of fully serviced as it includes everything, but your rent will most likely be substantially more than base rent. Load FactorLoad factor is a method of calculating total monthly rent costs combining usable square feet with a percentage of the square feet of common areas used by all tenants. Common areas typically include restrooms, lobby, elevators, stairwells, and hallways. If you share a building with three other tenants and each of your usable square feet the area youre actually renting as your store or office is substantially equal, your percentage contribution toward the common areas might be 25 percent or so. Net Lease This is a somewhat undefined version of a double or triple net lease. Youll pay for some taxes, insura nce and maintenance costs incurred by the landlord, if not 100 percent of one or all of them. The percentage can often be negotiable.Percentage Lease The word percentage does not relate to the usable square feet you can claim as your own in a commercial building nor the percentage of taxes, insurance, and maintenance you might pay as part of a net lease. Its a percentage of your monthly sales over a certain threshold. You might expect to pay this if you rent retail space in a mall. Rentable Square Feet This is your usable square feet plus your percentage of the common area square footage.Triple Net Lease Triple means three additional costs over and above your base rent taxes, insurance, and maintenance. So there you have it. Go out and negotiate your lease like a pro.

4 Top Hiring Strategies in Todays Market

4 Top Hiring Strategies in Todays Market4 Top Hiring Strategies in Todays MarketAs you search for candidates to fill new positions or vacated roles in finance and accounting, you should also orchestrate your hiring strategies. With low unemployment rates, supply is down and demand is up, along with the competition for top talent.You arent the only manager impacted by this. In a new survey, 93 percent of CFOs said it is challenging to identify skilled workers for professional-level positions. Its also taking them a month or mora to fill the roles.Hiring strategies that worked a few years ago may not work with todays unemployment rates. Job seekers have the upper hand, and you may need to retool so you can tischset up your organization for success without unnecessary stress and wasted time and energy for you and your team.Here are four steps to ramp up your recruitment for more effective hiring.1. Complete critical planning stagesTo find ideal candidates, its important to first do some strategizing. Before you announce your opening, sit down with fellow managers and identity the must-have attributes, experience and skills the position requires. Take note of what is absolutely essential and what could be taught on the job.You can streamline your recruitment by doing these thingsCultivate a talent pipeline - Odds are, you still have a list of people who applied with your department before and didnt make the final cut but were a good fit for your company. Update the list with referrals from your employees and networks.Create solid accounting job descriptions - Use information and input gleaned from your meetings with fellow managers. Be as specific as possible to capture the essence of the job, including key responsibilities and skill sets you need with a goal to hire the person who is the best match for the job and your work environmentEnlist help from your team - Your most senior staff members can save you precious time by helping process applications, screenin g resumes and narrowing the candidate pool.Intensify your recruitment - Gone are the days when you could put up a job posting without any hiring strategies and watch the applications come streaming in. You need to cast a wide net to get the word out, using job boards, social media, networking and advertising.GET HELP WITH HIRING2. Dont dawdle with the vorstellungsgesprchingIn a tight labor market, you dont have months to hem and haw over candidates. If you wait, your competitors will swoop in and lure them away. When you spot top performers, you should act quickly - but not rashly - to bring them on board.Make koranvers your interview process is efficient and productive with these tipsConduct phone and video interviews - A 10- or 15-minute phone interview is a good way to pare down the list of candidates and weed out possible bad hires before you invite anyone for in-person interviews. Using a video conferencing service like Skype, you have the added advantage of evaluating busi ness etiquette, professionalism, speaking abilities and interest in the position.Create a list of effective interview questions - Youll want to ask each candidate the same questions to ensure you have a basis of comparison for gauging responses.Cut down or combine rounds - You could lose your favorites with too many steps, so whittle your interview list to the top three to five candidates and look closely at the number of interviews and stages of approval youll require.Stay in touch - Candidates can lose interest if you keep them waiting. Provide updates and respond promptly to any questions they have.While youre at it, test the office waters to make sure candidates mesh with your corporate culture. Aside from evaluating technical expertise, experience and soft skills, such as communication and presentation, have your chief contenders meet with the person who would be their direct supervisor and potential coworkers.3. Perfect your hiring strategies for closingOnce you determine y our top pick and have all your approvals, prepare an attractive - and flexible - compensation package.With candidates commonly receiving multiple offers, more employers are willing to engage in salary negotiation. But to succeed, hiring managers need to stay up to date on the most current pay rates for finance and accounting professionals. Make sure your offers are in line with those of your competitors, and decide beforehand the upper limit of what you can offer. You can find salary data for more than 190 positions in the Salary Guide for Accounting and Finance.Also, dont forget that money isnt the only factor people consider when choosing a job. If youve asked the right questions during the interview, youll know what matters most to the professionals you are recruiting - flexible hours, extra vacation time, tuition reimbursement and the opportunity to work remotely, for example. Be creative with employee perks beyond the paycheck.4. Partner with a financial recruiterYou dont ha ve to do this alone. In fact, you may want to make this your first step in the process of finding and hiring skilled professionals.Leading specialized staffing agencies know the current employment trends and have large networks of skilled professionals to meet your hiring needs. Top job recruiters will also have solid business alliances.At Finance Accounting, we can help you overcome your hiring challenges in this market. Not only do our recruiters handle vetting the best candidates, but we also streamline the interview process and help with the offer stage to ensure smooth negotiations. Instead of waiting (and working overtime) for two months, you could have the perfect addition to your team in just a couple weeks.Take a good look at your hiring strategies and make sure they work for you and the organization. Companies that understand how to do it right will have an advantage in todays job market.Call 1.855.887.9660 for personalized assistance with your hiring needs.

Insider Job Search Tips from HR Professionals

Insider Job Search Tips from HR ProfessionalsJob Search Tips from HR ProfessionalsInsider Job Search Tips from HR ProfessionalsAs a job seeker, youve probably wondered what goes on in the minds of Human Resources (HR) peoplethe gatekeepers who determine whether your resume and cover letter make it to the hiring manager. Sometimes, eavesdropping is the best way to get the truth, and its something you can do while you search for a job. To get an insiders view of what its like on the other side of the fence, read what HR people and recruiters are saying online.Here are a couple examples of the kinds of things you might learnYour resume is in our system with 5,000 other resumes. If you want to differentiate yourself, dont just submit a resume into a career website and expect to be called. People get hired through career websites, yes, but they get hired through a whole host of mechanisms including employee referrals. Go find someone at my company to help you make your case. Laurie Ruett imann, Punk Rock HR ...when youre changing careers, industries, or starting a business, you know what you need? Contacts. And how do you make those contacts? Dare I say it? Shhhh, (whispering) networking. And youll need to take your networking in another direction. Stop looking for help from people who do what you used to do, and start looking at people who do what you want to do. Suzanne Lucas , Evil HR Lady