Security deposits and security deposit alternatives, as part of signing a rental agreement, are incredibly important for all parties involved, both the landlord and tenant. They protect the landlords financially in case of any damages, rent defaults, or costs incurred for cleaning the property.

For the tenants, security deposits are a form of law that binds them to care for the rental property and holds them accountable for their actions. However, there are instances where both parties can have conflicts with respect to the security deposit which leads to confusion.

By reading through this article you’ll be able to identify the common security deposit issues and ways to efficiently resolve them.

Purpose of Security Deposit in the Rental Agreement

To put it bluntly, the security deposit protects landlords as it covers possible expenses related to the rental unit, such as damage, outstanding amounts of rent, or occasions when tenants require a thorough cleaning. This will help ensure that the property is returned to the owner in the appropriate condition and that any potential losses suffered are reduced.

For tenants, security deposits become a settlement requirement which serves to create an obligation for rental clients not to damage property beyond certain limits as they will lose the money. It also gives them the satisfaction of knowing that money is put aside for some eventualities.

To put it simply, a security deposit serves as a protective measure for landlords and a legal obligation from tenants. Once paid, the landlord should also provide details about how the security deposit will be used and returned.

Common Security Deposit Problems

Disagreements between tenants and landlords can stem from any of several concerns related to the security deposit. Understanding each concern and setting rules for it can minimize the likelihood of disputes.

Normal Wear and Tear vs. Damage

A common issue surrounds distinguishing normal wear and tear and man-made damage. Normal wear and tear describes what is normally expected to occur in a building after several years of use. For instance, an age-old painting that has paint that has faded or a carpet that has suffered from constant usage.

Man-made damage on the other hand is the result of negligent handling or rough usage of the rented property like holes in the walls or even loss of fixtures. It is the duty of the landlord to provide an explanation with the lease of what could be considered normal wear and tear and man-made damage.

*Note: Bay Property Management Group Atlanta can assist landlords with documentation in case there is proven damage to the property.

Cleaning Disputes

Cleaning disputes arise when tenants are vacating homes. They may have left the house untidy and unclean to a landlord’s standard, so an amount is deducted from the security deposit.

To avoid this from happening, we recommend that landlords provide a cleaning checklist in anticipation of the moving-out process, as well as provide room-by-room specifications of where attention is needed to ensure job satisfaction. From this, there was no issue with cleaning appliances, scrubbing bathrooms, and sharpening vacuums for carpet cleaning.

Also, open communication and giving tenants the chance to resolve the issue before making any cuts can assist in settling such disputes amicably.

Late Rent Payments

Late rent payments may also limit the use of the security deposit. If a tenant remits the rent late, the landlords will be forced to use the security deposit without the tenant’s consent.

However, taking rent out of the security deposit can lead to more issues down the line, especially when it’s time to end the lease. So, it is very important that landlords should exercise caution and have clear policies on late payments.

Make sure to get every payment or lack thereof paid with its appropriate receipts to lessen issues regarding any late rent.

Solutions Landlords Can Implement

Addressing common security deposit issues proactively can help landlords and tenants maintain a positive relationship. Failing to de-escalate the issue can result in eviction and landlords relisting the real estate property on the market again.

Below are some effective methods to resolve the problems:

Detailed Move-In/Move-Out Inspection Checklist

Combining and documenting move-in and move-out inspections provides a valuable tool in preventing allegations and disputes regarding the condition of the rental. A properly documented inspection must include a checklist form covering the specific rental unit’s walls, floors, appliances, and fixtures.

The checklist should be physically available during the move-in inspection by both tenant and landlord, and their representative should take photographs as evidence while they mark every item. This helps to ensure that any existing damages are recorded.

This approach enables the move-out inspection to evaluate the previous checklist, which facilitates a comparison between the condition of the building before the lease was signed and after its termination. Such discrepancy allows for the identification of damages, if any, that require the use of the security deposit for repairs.

Encourage Open and Clear Communication

To circumvent the majority of the security deposit problems, landlords and tenants should communicate in an open and transparent manner. From the outset, landlords should outline their communication strategy with the tenants and reassure them with lines that allow tenants to share their issues with ease.

This can be achieved by basic things such as regular calls, sharing contact details, and responding to tenants’ questions. Effective communication ensures the use of common sense on both sides of the relationship, thereby preventing any issues from arising in the first place.

If landlords could provide tenants with a thorough understanding of the norms of security deposit usage, including maintenance and cleaning duties for the apartments, tenants would be able to cooperate easily.

Track Record of All Payments

It is vital that both landlords and their tenants maintain accurate records of all transactions made. As mentioned before, records of rent, security deposits, and other deductions should be well-kept by the landlords.

One may use property management tools or simple spreadsheets to record this information. At a minimum, every record should include the date, amount, and reason for the transaction. To help build trust, providing tenants with receipts when they pay rent or a summary of their user accounts could help.

The written accounts of all the payments and progress made for a certain task will serve as proof and will come in handy to settle any disputes that may arise.

Importance of Understanding the Lease Agreement

For landlords and tenants, understanding the lease agreement is essential in minimizing disagreements when renting. The agreement specifies the duties of both parties as well as details about security deposits.

Set out clearly the circumstances where and where deductions cannot be made, in what circumstances the deposit may be returned, and how long it will take to return it. Tenants should always read the lease agreement well to know their rights and legal obligations to avoid nasty confrontations and disputes.

It’s also important for tenants to ask questions about the lease if any part is unclear, and afterward, they can keep a signed copy. Landlords ought to make the agreement encompassing every facet of the renting relationship simple and easy to understand.

Updating the lease agreement every now and then to the local requirements will also assist in minimizing renting conflicts and promoting positive renting relations between the two parties.

Conclusion

In order to avoid disputes, it is essential that landlords and tenants are on the same page regarding the purpose of the security deposit as well as its management. Being aware of the tenant’s ongoing issues such as cleaning requirements or repair jobs would greatly lessen misunderstandings while also preserving the relationship between the two parties.

Wording things correctly, recording communications, and performing appropriate due diligence all serve to alleviate issues “before they arise.” More specifically, they are beneficial to the management of the relationships between tenants and landlords as well as the disputes that stem from them.

The Canadian government’s introduction of the Non-Canadian Residential Property Ban has reshaped the real estate landscape in a significant way. Aimed at cooling the housing market and making home ownership more accessible for Canadians, this legislation restricts non-Canadians from purchasing residential properties. But what does this mean for real estate investors? Let’s dive into the key aspects of the ban, its effects, and the strategies investors can adopt to navigate this new terrain.

Understanding the Non-Canadian Residential Property Ban

The Non-Canadian Residential Property Ban, enacted in January 2023, aims to curb foreign speculation and stabilize housing affordability. It prohibits non-Canadians from purchasing residential properties in most parts of the country for a set period. Key exemptions include multi-family dwellings and properties in less populated areas, as well as purchases made by permanent residents, refugees, and international students under specific conditions.

This legislation primarily targets high-demand urban areas where foreign investment has been a significant driver of price inflation. By limiting non-resident purchases, the government hopes to increase housing availability and affordability for local buyers.

The Immediate Effects on Real Estate Investors

The introduction of the ban has caused a noticeable shift in Canada’s residential real estate market. One of the most immediate impacts is the reduced demand from foreign buyers, particularly in metropolitan hubs like Vancouver and Toronto, which were previously hotspots for international investors.

This decline in foreign investment has led to a slowdown in property price growth in certain areas. While this creates opportunities for domestic buyers, it also reduces liquidity, making it harder for current investors to sell properties quickly at desirable prices.

For investors focused on residential real estate, these changes have forced a reevaluation of strategies. Some have shifted their attention to commercial properties or exempt residential investments, such as multi-unit rental buildings, to mitigate the impact of the ban.

Opportunities for Domestic Investors

For Canadian investors, the ban brings a silver lining: reduced competition from international buyers. In high-demand markets, this opens up opportunities to purchase properties that were previously out of reach.

Domestic investors can also benefit from stabilizing prices, which allow for more calculated investment decisions. In addition, regions previously dominated by foreign buyers may now offer greater affordability, enabling local investors to expand their portfolios or enter markets they had been priced out of.

Challenges Faced by Real Estate Investors

While the ban creates opportunities, it also presents challenges. Investors with international ties may find it difficult to manage property portfolios that include non-residents. Additionally, regions that once thrived on foreign investment may experience slower market growth, affecting the overall return on investment for properties in those areas.

Another challenge is the uncertainty surrounding the long-term impact of the ban. While it aims to make housing more affordable, there’s no guarantee that it will lead to the desired outcomes. Investors must carefully monitor the market for signs of unintended consequences, such as overcorrection or reduced construction activity, which could limit housing supply in the long run.

Workarounds and Strategies for Affected Investors

Despite these challenges, there are several strategies investors can adopt to navigate the restrictions. Focusing on properties exempt from the ban, such as multi-family dwellings or commercial real estate, can help maintain investment momentum.

Joint ventures with Canadian citizens or permanent residents are another viable workaround. These partnerships allow international investors to remain active in the market while complying with the new regulations.

Finally, investors can explore opportunities in less restrictive regions or smaller cities where the ban’s impact is less pronounced. These markets may offer untapped potential for growth and profitability.

The Role of Real Estate Professionals

Navigating the complexities of the Non-Canadian Residential Property Ban often requires professional guidance. Real estate lawyers and agents play a crucial role in helping investors understand and comply with the new regulations.

Professionals with expertise in Canada’s residential real estate market can also assist investors in identifying exempt properties and structuring deals that align with their goals. By leveraging the knowledge of seasoned professionals, investors can reduce risks and uncover opportunities in this evolving landscape.

Long-Term Implications for the Real Estate Market

The long-term effects of the Non-Canadian Residential Property Ban remain uncertain. While it has already influenced housing prices and market dynamics, the broader implications for Canada’s real estate sector are still unfolding.

For one, the ban could lead to increased domestic investment in residential properties, which might stabilize prices in the long run. However, if the housing supply fails to meet growing demand, affordability issues could persist.

Additionally, the policy could affect Canada’s reputation as an attractive destination for foreign investment. Policymakers may need to balance the goals of housing affordability with the economic benefits of international investment to ensure sustainable growth.

Conclusion

The Non-Canadian Residential Property Ban marks a significant shift in the Canadian real estate market, creating both challenges and opportunities for investors. While the ban has reduced competition from foreign buyers and stabilized prices in some areas, it has also introduced complexities for those with international ties or interests in high-demand regions.

For investors willing to adapt, strategies like focusing on exempt properties, forming partnerships, and seeking guidance from real estate professionals can help navigate this new landscape. Understanding and responding to legislative changes like this one is essential for staying ahead in an ever-evolving market.

By keeping an eye on long-term trends and leveraging available resources, investors can continue to find success in Canada’s dynamic real estate environment.

Moving your enterprise is a major job that requires not just a plan but also a well-executed series of steps. Of course, one of the most crucial aspects of this whole affair is relocating to a suitable new space. Commercial real estate listing services have transformed the manner in which businesses seek and secure new spaces. These web-based platforms themselves are not difficult to use. Still, a good user experience is only half the equation for finding a good space; the other half is knowing your company’s needs and using that knowledge to inform your search and your choices. So before you dive into the search or start poking around in the platforms, I strongly recommend taking some time to flesh out the specific wishes and requirements that your company has for its new space.

Choose the right platform: ROFO.com is a platform that connects business owners with commercial real estate professionals and helps them find office and meeting room spaces.

Here are some of the reasons why ROFO.com might be a good source for finding your next business location:

• Connect with commercial real estate professionals: ROFO allows you to find brokers and agents in your area who specialize in commercial real estate. This can be helpful if you need assistance navigating the leasing process or finding properties that meet your specific needs.
• Browse listings by market activity: You can browse listings by zip code or region to see what kind of properties are available in your target market. This can give you a good sense of pricing trends and what types of spaces are in demand.
• Track market activity: ROFO allows you to keep track of new listings, pricing, and transactions. This information can be helpful when negotiating a lease with a landlord.
• Social features: ROFO has social features that allow you to share listings with others and get recommendations on agents or brokers.

Amenities: Make sure the property has the essential amenities needed for your business, like high-speed internet and adequate parking. Check the building security and any on-site amenities that might be beneficial, like a gym or cafe, ensuring that the SRO is an allusive ground for your potential workers if it comes to that. Zoning: Verify that the property conforms to your business type, as well as any local, state, or federal regulations. If you work in an industry with a dubious reputation, such as an adult services business or a licensed marijuana seller, make sure the property won’t be tormented by prying eyes or have a sheriff’s deputy camped out across the street.

Examine the activity in your target market: You can examine listings by area to understand the kinds of properties being marketed there. Listings can be filtered by price range, allowing you to see what’s available in your budget, and they can also be filtered by type of property: commercial spaces, offices, retail space, etc. If you have a potential site in mind, you can examine the property path activity for that site to see what the deal flow looks like. Is your potential site being leased or sold? If your potential site is listed as an active property, it’s a good indicator that the kinds of listings you care about in that area have momentum.

Property Type: Choose the correct property type (office, retail, industrial, etc.). Size: Enter your required minimum and maximum square footage. Price Range: Set the budget parameters. Amenities: Filter by specific requirements, like necessary parking, loading docks, and on-site services. Keywords: Use relevant keywords to find properties that match your specific needs (e.g., “high ceilings,” “creative office space”). Property Research: Once you’ve identified potential sites, conduct thorough research on each. Visit the Property: Schedule a North Face trip to each property to assess its condition, layout, and the surrounding area; review the site with a critical eye. Lease Agreements: Carefully examine all the required terms and provisions of the lease. Make sure you really understand what is and is not allowed. Pay close attention to rent, duration, and maintenance provisions. Consider your responsibilities if you have to move at the end of the lease.

Look into the landlord: An investigation into a landlord’s reputation and their way of dealing with tenants can go a long way toward ensuring that you don’t end up stuck in an unpleasant situation.

Be sure to understand your local market: You need to know your local market well enough to determine whether the proposed rental agreement makes sense.

Get a commercial real estate broker to help you: Find a local commercial real estate broker to assist you in the process.and in the negotiations. Your leverage is determined by how well you know the market, how desirable your business is, and how well-off you are financially.

Compromise may be necessary: You may have to yield on some terms while holding steadfast to the critical ones that matter most to you. If you must negotiate, do so with an aim to achieve a win-win outcome. This is a critical time for your company as you look to forge a long-term path for its future. Focusing on the above items will help ensure that the relocation is beneficial for both you and the landlord over the long term. It’s a lot to think about, and it could be helpful to work through the details with your legal and financial professionals.

By following these best practices and leveraging the power of commercial real estate listing sites, you can streamline your business relocation process and find the ideal space for your company to thrive. Remember to clearly define your needs, conduct thorough research, and negotiate effectively to secure the best possible outcome for your business.

Disclaimer: This blog post is for informational purposes only and does not constitute legal or financial advice. Consult with qualified professionals for guidance specific to your situation.

For decades, ROFO.com has been a resource you could trust for finding the perfect commercial location. If you were an entrepreneur of any stripe trying to establish a physical presence for your business, ROFO and its friendly, supportive interface were like a helpful neighbor leading you to the right storefront. But the business landscape keeps changing in ways that affect all of us, and at ROFO, we’re not standing still. Today, we are excited to announce the launch of:

ROFO Beyond Bricks: Strategies for Business Success.

Stretching Beyond the Material Frontiers

ROFO Beyond Bricks is a platform we have just launched at ROFO.com to provide insightful resources and guidance in the specialized area of helping companies like yours break into new markets and opportunities. It is all part of a strategy to go well beyond the standard of care we provide to clients in the classic real estate transaction. We want to help you with the insights and resources to break into new territories and serve your business well.

What Will You Find Waiting at ROFO Beyond Bricks?

ROFO Beyond Bricks will gather under one roof a smorgasbord of riches intended to yield your successful business. What follows is just a fraction of what you’ll find. First, there will be plenty of informative articles and guides. These will be insightful and often span the kinds of lengths that allow for depth without verbosity. They’ll toss around a wide variety of business topics as bait to hook your interest. Among the business-related subjects they’ll cover will be at least one marketing strategy surely destined to inspire you with its originality. The articles and guides will be so readable that the online experience will be virtually indistinguishable from experiencing a face-to-face conversation with the author. Then, too, you will find interviews with honest-to-goodness industry leaders and marketing-savvy entrepreneurs.

Why Use ROFO Beyond Bricks?

Our  newly re-launched platform offers unparalleled benefits for its participants: *

• Stay Informed: While the commercial real estate industry may not be the fastest to adopt new digital trends, it is crucial for professionals operating within the space to be aware of emerging technologies that promise to change the nature of business. This is about not just surviving but thriving in the digital age.
• Access Valuable Resources: ROFO Beyond Bricks will serve as a platform for offering not just advice but also the direct resources that entrepreneurs need to succeed.

Your Success is Our Success

At ROFO, we believe that your success is our success. That’s why we’ve launched ROFO Beyond Bricks. We want to empower you with the tools, knowledge, and support necessary to build a business that thrives beyond both you and its physical location. Whether you’re looking for the ideal commercial space on ROFO.com or seeking expert counsel, ROFO Beyond Bricks is here to serve you. Pay us a visit today, and we’re sure you’ll find a bevy of resources that’ll do nothing but good for you and your entrepreneurial dreams!

Still Here for Your Commercial Real Estate Needs

We are still here to help with your commercial real estate needs. We still provide a focused and enhanced means of searching for your next commercial real estate space. Acquiring commercial space is not nearly as easy as booking a hotel room. Once you have the right space in mind, you must then locate the right landlord or sub-landlord who can meet your very particular and vital business, space, and location requirements. If you are like most businesses, you likely don’t do this often, which makes the search even more difficult when the time finally arrives. ROFO represents an alternative that works well with both soft and hard searches. Its engine returns results quickly and precisely, using the right criteria to pull in the appropriate properties and the right contacts.

These professionals are much like you, they are seeking to forge qualified connections.

• ROFO provides you with a simple, efficient portal into your local commercial real estate market.
• And even if you need office space, part time or otherwise? Or if your search is for an ideal new retail location?
• An industrial, manufacturing, or co-working space?
• Or perhaps what you need is a virtual office?

Whatever it is you’re after, ROFO is your surefire way to find the local residential market’s “it” space.

The Easy Way to find Commercial Real Estate

The Easy Way to find Commercial Real Estate

Before starting your search, make sure you have a clear understanding of your business needs, such as your budget, desired location, and required space size. This information will help you narrow down your options and make the search process more efficient. Once you’ve defined your high level requirements, consider these 5 steps:

1. Online Listings: Start by searching commercial real estate websites that feature office and industrial spaces. Rofo.com and CityFeet have listings for Alameda and the surrounding areas. Use filters to refine your search based on your requirements, such as size, price, and location.
2. Local Brokerages: Reach out to local commercial real estate brokerages specializing in office and industrial spaces in Alameda. Firms like Colliers International, Cushman & Wakefield, or CBRE have agents who can provide valuable insights and help you find the right property. Additionally, consider contacting local brokerages in Alameda that may have more intimate knowledge of the local market.
3. Networking: Tap into your professional network to get recommendations for available office and industrial spaces in Alameda. Your contacts may have direct experience or know someone who can help you find suitable properties.
4. Local Economic Development Organizations: Reach out to local economic development organizations, such as the Alameda Chamber of Commerce or the City of Alameda Economic Development Division, for guidance and assistance in finding office and industrial spaces. They may have resources or contacts to help you in your search.
5. Drive Around: Physically explore the Alameda area and look for “For Lease” signs on commercial properties. This method can help you identify potential spaces that may not be listed online or are new to the market.

Lastly, give yourself plenty of time.  Many companies will use an entire year to conduct a search to find the right space.  This largely depends on your requirements and the market.  But it can be time consuming.

Brooklyn, New York’s most populous borough, has become a vibrant hub for startups, creative professionals, and established businesses alike. The commercial real estate market in Brooklyn, particularly the office space sector, has undergone a significant transformation in recent years. In this blog post, we will explore the current trends and developments in Brooklyn’s office space market, focusing on key factors such as location, coworking, flexible office solutions, and the impact of remote work.

1. Prime Locations: Brooklyn’s Office Space Hotspots

Brooklyn’s office space market is defined by several submarkets, each with its unique features and appeal. Some of the most sought-after locations for office spaces in the borough include:

• DUMBO (Down Under the Manhattan Bridge Overpass): Known for its stunning waterfront views and historic warehouse buildings, DUMBO is a hub for technology, design, and media companies.
• Downtown Brooklyn: As the borough’s central business district, Downtown Brooklyn offers a mix of modern office buildings and historic properties, catering to a wide range of businesses.
• Williamsburg: A popular destination for creative professionals and startups, Williamsburg features a mix of converted industrial spaces and new office developments, providing a diverse and inspiring work environment.

2. Coworking Spaces: Collaborative Work Environments on the Rise

Coworking spaces have been gaining popularity in Brooklyn, offering businesses a cost-effective and flexible alternative to traditional office leases. These shared workspaces provide various amenities, such as high-speed internet, meeting rooms, and networking events, fostering collaboration and community among members. Brooklyn boasts a diverse range of coworking spaces, from global brands like WeWork and Industrious to local operators such as The Yard and Green Desk.

3. Flexible Office Solutions: Adapting to the Changing Needs of Businesses

The growing popularity of remote and hybrid work models has led to a shift in Brooklyn’s office space market. Businesses are now seeking more adaptable and customizable office solutions that can cater to their evolving needs. Flexible office providers in the borough offer a range of services, including short-term leases, furnished offices, and scalable workspace solutions that can accommodate a company’s growth.

4. The Impact of Remote Work on Brooklyn’s Office Space Market

The COVID-19 pandemic has fundamentally changed the way businesses approach office spaces, with many adopting remote or hybrid work models. While this has led to a short-term dip in demand for traditional office spaces, it has also created new opportunities for the Brooklyn office space market. As companies reassess their workspace requirements, there is a growing interest in hub-and-spoke models, where businesses maintain a smaller central office and satellite offices in different neighborhoods, providing employees with more flexibility and shorter commutes.

Conclusion:

The Brooklyn office space market is in a period of transformation, driven by evolving work patterns, technological advancements, and the growth of coworking and flexible office solutions. As the borough continues to attract a diverse range of industries and businesses, its office space landscape will undoubtedly adapt and innovate to meet the changing needs of the market.

The San Francisco office space market is defined by several submarkets, each with its unique features and appeal. Some of the most sought-after locations for office spaces in the city include:

• Financial District: The traditional heart of San Francisco’s business community, the Financial District offers prestigious addresses and high-quality Class A office spaces.
• SoMa (South of Market): A popular hub for tech companies and startups, SoMa offers a mix of modern office buildings and converted warehouses, providing a vibrant and creative environment.
• Mission Bay: Home to the rapidly expanding life sciences and biotechnology industries, Mission Bay offers state-of-the-art office spaces designed to cater to the needs of these growing sectors.

2. Coworking Spaces: A Growing Phenomenon

San Francisco Coworking spaces have been on the rise in San Francisco, offering businesses a cost-effective and flexible alternative to traditional office leases. These shared workspaces provide various amenities, such as high-speed internet, meeting rooms, and community events, fostering collaboration and networking among members. San Francisco boasts a diverse range of coworking spaces, from global brands like WeWork and Regus to local operators such as The Hivery and Canopy.

3. Flexible Office Solutions: Adapting to Changing Needs

The growing popularity of remote and hybrid work models has led to a shift in the San Francisco office space market. Businesses are now seeking more adaptable and customizable office solutions that can cater to their evolving needs. Flexible office providers in the city offer a range of services, including short-term leases, furnished offices, and scalable workspace solutions that can accommodate a company’s growth.

4. The Impact of Remote Work on San Francisco’s Office Space Market

The COVID-19 pandemic has fundamentally changed the way businesses approach office spaces, with many adopting remote or hybrid work models. While this has led to a short-term dip in demand for traditional office spaces, it has also created new opportunities for the San Francisco office space market. As companies reassess their workspace requirements, there is a growing interest in hub-and-spoke models, where businesses maintain a smaller central office and satellite offices in suburban areas, providing employees with more flexibility and reducing commuting times.

Conclusion:

The San Francisco office space market is in a period of transformation, driven by evolving work patterns, technological advancements, and the growth of coworking and flexible office solutions. As the city continues to attract a diverse range of industries and businesses, its office space landscape will undoubtedly adapt and innovate to meet the changing needs of the market.

Just heard from Lee and Associates regarding the Phoenix commercial real estate market and the industrial market is on fire. While the office market continues to try to find its footing. Seems to be the case in may markets across the U.S.

Since the outbreak of the coronavirus in the US, the commercial real estate needs of US businesses have been evolving. The obvious trends are that companies are downsizing office spaces or shuttering retail locations. This makes sense with employees working from home and students studying online. Markets are seeing shifts in the way businesses and local consumers are interacting (or not) with local real estate.

Rofo.com is a commercial real estate marketplace for businesses who are searching for office space, a retail location, or warehouse space.

Starting this week, we will begin publishing notable small business leasing and demand trends and anecdotes we are witnessing on rofo.com It is not all doom and gloom. In fact, our active monthly users (companies searching for real estate) are now higher than the months leading up to the realization of the pandemic.

For the month of October in Michigan, we have seen an uptick in leasing demand in Grand Haven, Bay City, Saline, Plymouth, and Ann Arbor.

This demand is coming from local retailers, financial services firms, marketers, consultants and manufacturers. These are companies that are seeking new locations driven by changes related and unrelated to Covid 19.

If you are interested in getting more information about our data please contact Rofo. And if you are a Michigan business looking for a new location you may post your real estate requirements on Rofo to see what your options are.