BOMA, or the Building Owners and Managers Association, is an international trade association for commercial real estate professionals. The organization, which was founded in 1907, sets many of the standards for how commercial structures are measured. BOMA standards particularly focus on office, industrial, multifamily and retail properties
Real estate syndication is the process in which multiple investors pool their money together to purchase a commercial property. Syndication is similar to crowdfunding, and many real estate syndication deals are now crowdfunded on the internet, through platforms such as Fundrise, Realty Mogul, and a variety of others. Investors in a real estate syndication deal benefit by getting access to deals they would not be able to create on their own, as well as not having to worry about the day-to-day hassles of personally owning investment property (i.e. property management).
In real estate, an acceleration clause is a loan provision that permits a lender to force a a borrower to pay off the remaining balance of a loan if the borrower violates certain elements of a loan agreement. Most commonly, an acceleration clause can be invoked if a borrower defaults on their mortgage, however, there are a variety of other breaches of contract that may be listed in a loan agreement.
A lease assignment occurs when a tenant fully transfers their lease to another party. This is particularly important for tenants who wish to get out of their leases early due to financial issues, especially if a landlord does not allow subleases. In general, the landlord must agree to the lease transfer, and usually records their consent to it via a document called a “license to assign.”
Commercial leases can last as little as a few months, or as long as 20 years or more. In contrast, multifamily apartment leases are typically 12 months, with some leases ranging as long as 24 months. However, before a lease is up, a landlord has the option of allowing a tenant to renew their lease. Whether they want a tenant to renew is up to several factors, including the tenants behavior, as well as individual factors involving the property.