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Can i industry sign banking idaho lease agreement

hi everyone my name is will fowler and i'm the associate state director for operations for the idaho small business development center and i want to welcome you to our webinar negotiating your commercial lease in uh the era of cobinite team we have an awesome panel that's going to talk about some really important questions um and i really look forward to hearing your questions so i want to give you all a few tips on how to get the most out of this webinar first is don't try to unmute yourself because you can't it's a webinar function so the only people that can unmute themselves are going to be the panelists but you can ask questions so if you look at the bottom of your screen there's a q a button if you open that you can ask any question you want and and we will do our very best to answer all the questions you can type them in there you can type them in there you can also see other people's questions so i highly recommend having that box open while you're while you're watching the webinar secondly there's also a chat button so if you look at the bottom of your screen there should be a chat button that is a great way to crowdsource information to chat with the other attendees that are here and so if you have questions for the panelists please use the q a if you have questions for the group or information that you want to share you can use you can use the chat we'll be following along and chatting in a few key points and reminding folks who want to ask questions to put them in the q a and uh and if you do those things i think you'll get the most out of this webinar i'm super happy to introduce ruth schwartz ruth is a consultant in our boise idaho office and she has been our subject matter expert in all things covet if you have attended um an sbdc webinar since march you have probably seen ruth because she has put in a lot of extra time and effort to um to be our expert here so i'm really pleased to introduce ruth and i'm gonna unshare my screen and just let her take it from here thank you um will and welcome everybody to uh today's subject which is negotiating commercial leases um that's great i just lost my zoom screen hello uh in any case um i see nothing now here we go okay okay i'm back um i want to welcome some really special guests here but i want to um let you know exactly what we're trying to accomplish here today and to set a little bit of parameters around the conversation um speaking on behalf of consultants all over idaho for the sbdc one of the things that we were being asked a lot is how am i to pay my rent as a small business owner next to payroll expenses this is usually one of the largest line item expenses for most small businesses and it became a point of tension now for most um consultants at the sbdc i think we would be you know famous to say oh well go talk to your property management company or your landlord and renegotiate two things would happen i know in my experience and i heard from many other consultants one was that small business owners would return and say i don't even know how to start this conversation and secondly um i really don't understand what's in my lease even if they started the conversation they didn't really understand some of the contents of their lease we also found that in the same breath that that was all happening that many of the clients many of you small business owners are also landlords are also leasing commercial space to others and we're having a different set of issues that were happening one renegotiating with tenants was one part and maybe having a little bit better understanding of the leases but also having an obligation to lenders so there was a squeeze that was starting to happen and what we were hoping would happen here is that we could have a panel of experts to address these issues define where is the win-win-win in um in making this work for tenants landlords and lenders so we have all three of those experts in their field i'm so happy to welcome mike pena from collier's international who's a partner here in idaho jim shipman also managing partner of colliers um and andy bieta i i knew i was going to do this wrong bae tia um my spanish not being as good as it should be really um the president of washington trust bank all experts in their field um i'm going to start this off by asking each of them to a few questions just to get your juices going so that we know what would actually uh answer your questions and be of most value for your time spent today on this webinar and i want to remind you especially if you're just coming on the call now that uh anytime you have a question put it in the q a because we're only going to talk for about a half an hour and then we're going to open it up and make sure that your questions are answered and you walk away with some valuable information i want to start out with mike pena and ask you a few questions and welcome thank you for being here today i'm using mike as an expert in what is happening in commercial elite space right now and what is it that both tenants and um lessers need to know to prepare themselves in advance for a possible renegotiation of a lease thanks ruth appreciate the opportunity to be here today um some of the trends that we're seeing right now um in leasing is uh throughout the treasury valley and through idaho we're still seeing a really strong industrial demand which is positive to me the industrial market is really the lifeblood that drives our economy whether it's um manufacturing uh contractors or even storing products for retail sales especially since our economy has done a lot of um online sales now so we're seeing continued strength in the industrial market we are seeing kind of a pause on the uh retail users um a lot of that's due to the some of the shutdowns i mean the shutdowns depend on what city or county you're on and how the coronavirus is impacting that but all in all there there is kind of a pause on the retail users uh specifically uh some items that are impacted more are um you know bars um some type of some eating establishments that may not have a patio or a drive-through or are having a little bit more of a harder time we are seeing a little bit of of a caution on regarding the office market um we have seen um some recent announcements in the downtown boise with uh centurylink and some other users and they are not going to renew some of their leases and that is uh the big first in the army armor on in the office market um i believe in the centurylink building and some other tenants that are not going to renew were around 120 000 square feet of class a office space that's going to be coming on the market so that we are seeing effect from that i don't think we fully understand um how that how the office market's going to be impacted fully yet uh because we're still haven't got all the way through the coronal virus but that's something that's happening and then the other thing is in the hospitality industry so hotels um event centers are seeing a big impact on that jim kind of wanted to throw that over to you and kind of see what you're seeing on that too for a different perspective uh thanks mike yeah i i would reiterate you know in essence what mike said as far as some of the trends you know tourism tourism related businesses are hit particularly hard and i think you know one of the reasons i point that out is it's important for everybody to understand when we you know forget all the politics and all everything you're hearing about the economy and the covet and what's happening um tourism goes down then you have you have taxes off of hotel states you know that that affects local economies local uh groups that are that are driven from those taxes it has a huge trickle-down effect across the spectrum um and yeah that that would be the biggest i think uh you know the other thing i would i would say to everybody and first of all welcome and i'm glad that you've joined us and i hope everybody's doing okay this is a tough time um i've said this is from a national mental health standpoint boy we're being pushed with an election year social issues we can't breathe the air because there's so much smoke we've got uh you know kobit there's a lot of things so everybody you know i would just say with all sincerity hang in there um it's gonna it's going to get better and i think you know to reiterate part of what mike says we don't know the we're seeing trends and and for example um and ruth i know you're probably going to be asking this in a minute anyway but uh you know early on we were really worried we we have a very large third-party portfolio where we manage properties we collect the rents and we really thought in march and april and may we're going to see a dramatic drop-off in rent payments and honestly we really we haven't uh we didn't see that we saw a you know maybe a typical month you're collecting 97 percent of rents we got down to about 90 91 and jumped right back up in june and july and and so we didn't see this huge drop off i think a lot of that and andy can touch on the ppp funds and how that all worked but a lot of it had to do with that we saw a lot of tenants come to us in uh in march and early april and say hey what are landlords willing to do and get me on the list i want to i i i'm going to have to do something and then all of a sudden in april and may they said we're good you know they get they qualified for some of the different um government subsidies the cares that you know and and they're able to sustain their business and stay open those funds have dried out those funds are gone we can all watch the news and see the government you know i'll argue with each other about what else they can or will do we've got an election so who knows what anything's going to be done um uh i i do think it's too early from a trend standpoint to give a black and white you know we're going to see this in or that in office we're it's a mixed bag right now and i think it's it's still a bit too early uh mike's right we've we've seen uh you know centurylink announce 100 plus thousand square feet that's going to be vacated um that that's that's significant we're also seeing tenants come to us and say we need more space we need social distance in their office so in fact we don't want less space we need more because we need to meet the new new norm or new standards um so i think it goes both ways you know where centurylink announces they're going to have everybody work from home i don't know if people saw this but jp morgan a week or two ago came out and said everybody get back to work we're done they saw the head of jp morgan came was pretty blunt said we've seen huge drop-offs in productivity particularly on fridays and mondays interesting people are working from home and now it's a long weekend and they said we got to get back to work so the you know the trends so to speak are are are just not that clear yet and as we all know we're we're still wearing masks hopefully everybody is we're still enduring this pandemic and are going to be for the foreseeable future so i don't know that we'll have a a hardened you know black and white answer on it anytime you know certainly not today but about any time too well because some of the ppp funds are probably running out about now are you seeing um anybody coming back around to renegotiate um smaller spaces maybe than centurylink plaza yeah centurylink's a kind of an exception there ruth you're right um and a little different animal than the the small businesses uh what they can you know how they can weather the storm uh certainly we we are we are seeing folks again in that discussion of how can we re you know what what's available what can we do um um and i would i would stress that i think if there's one thing that any small business owner can take away from this and i know mike and andy will reiterate this is plan and communicate early and you know uh andy can talk more about the the relationship between a landlord and a a lender you know what where the ruth i think you started off by saying you know landlords are swedes they got tenants asking and they got lenders pushing um you know it's there's not a uh an open checkbook just to say cancel my lease um i think the best thing tenants can do and we can talk about creative ways of doing things but the best thing you can do is is uh be thinking now be looking ahead maybe it looks good for the next two months but don't wait until you're in default on your lease you're behind in payments to ask for help start the conversation now so your landlord can start the conversation with their bank and on down the road and yeah that's um i do want to get to the lender side of this but i do want to keep going mike maybe and jim as well um what are what are the negotiable negotiable parts of a typical commercial lease especially in some of the retail spaces i understand that industrial is just you know as hard to find as anything and maybe maybe are people not as willing to negotiate there but in retail space and event space um in industries that are hurting what can they do but i think um the the key that you want for an attendant when they they're having issues i think the first things that you want to look at is is early communication is key um having early communication and letting letting the building owner or landlord know that you're having cash flow problems um don't wait for things to fester and don't wait to get too bad and then other the other thing you want to do is looking for solutions um so look for solutions to the problem we see a lot of uh landlords that have amortized maybe some free rent about two three months of pre-rent and advertise it over the term of the existing lease so the landlord's still made whole but it gives the tenant an oppor opportunity to alleviate some initial cash flow problems that are that are going during some of these koba shutdowns uh the other thing that we're seeing is instead of advertising over the term releases they're just adding it on to the back end of the lease um other opportunities are if you don't have a lot of um time left on your lease as a potential a buyout fee you know really and just try to try to look at what's what could be a win for both parties another option is to potentially do um look at hiring a a brokerage firm to do a sub lease where they could lease that property out to another tenant um that would pay the rent um you would there is typically a six percent fee for the value of that lease to pay to the brokerage um but that is a a good another good solution ruth i'm just going to add on to that but first i have to say mike great selfless plug there i mean that's beautiful hire a broker as the managing owner of colors and he's one of the owners i i you know kudos to mike but uh all kidding aside um i think the key word that mike used there is creativity is don't go into this looking to say i've got a 1500 a month rent payment landlord let it go you know i just i can't pay it so you need to you need to forgive it it's just not realistic because and then you'll get to the the lending side of that you know there's covenants and there's ratios that the landlord needs to meet um look at uh and i would say there's three areas one the three things to look at is how much space do you have and what do you need maybe there's an opportunity to shrink the space a bit you know that by if you're paying 10 a square foot you have 100 square feet reducing that to 50 obviously cuts your rent in half now again the landlord doesn't have to do that um but that's a that's one the first thing to look at the second thing is obviously the rent and when i said three things well the rent comes in two components there's typically there's um um and i don't want to get too technical but if it's a triple net lease where you're paying you know a grossly slow gross lease you're paying one dollar amount and a landlord pays all the expenses if it's a triple net look at those triple net charges so maybe you can negotiate something on your base rep but also what are you paying for me you know during a covenant crisis maybe the landscape doesn't need to look quite as good and i'm not saying properties need to be run down maybe tenants can all work together shut down the lights at certain hours not run the ac ope windows have fans uh do things that are reducing those operating expenses for the landlord which will pass through to the tenant and reduce the rent and and then finally uh and mike touched on it creative ways instead of asking the landlord to just forgive the money you know maybe and we we did have some tenants and uh ruth you asked about you know we're not seeing as much right now as we might have expected to be honest um but certainly in march and april a lot of what was being discussed was hey can you forgive my rent for april may june for example and then the landmark said sure let's add three months on to the end of the lease let's extend your lease by three months and have to run right there or we'll forgive those three and you have 15 months left let's divide that amount that we're forgiving over 50 and add it to each month um you know there's there's different ways to do it but again you as a tenant are not the only party in this you know the the trickiest part the hardest part is you have a contract and that contract says that on the first of next month you're gonna pay rent so start communicating now and work with the landlord so they can work you know and everybody can uh uh can win and i know that's kind of cliche win-win but um that's what we're looking for all right so just a couple specific questions about commercial leases uh and and i think it comes from people get residential leases and they they look at those uh leases that you know if i can't pay it i'm just going to move out or the landlord's just going to evict me but in a commercial lease the demand is a little bit different so i just wanted you to maybe explain a little bit why you just don't walk away from a commercial lease well it's a great point and and and i'm going to add to that roof one of the panelists asked what are the landlords not willing to work with attendance so we're at i think that that question ties to your question um whether it's residential or commercial you know there is a thing called the credit rating individual corp however you look at it that will be negatively impacted if you just walk away and i won't speak to residential that's not my area but i know it can impact you there as well but on a commercial side often depending on particularly with smaller businesses and again to draw the distinction with the centurylink probably not with centurylink big company a lot of assets financially strong the landlord says hey if they can't pay it we'll we'll sue that company and we'll recover something smaller businesses are often often the leases are personally guaranteed and so you have an individual the principal owner of that business who's signed on as a guarantor which means if the business walks away guess who's in the courtroom and it's it's the individual with a judgment against them for all of that rent so you know certainly bing red flag first thing you look at is if you're thinking of of walking away and if uh you know the landlord's not willing to work with you be careful if you have a personal guarantee there because you're you're um you're personally exposed now if it were just the business on the lease and sorry but in a you know we represent a lot of landlords so i'm not trying to recommend this but if you're if it's just a business on the lease and the business has no assets it's done then the landlord's left suing the business probably not getting anything and you may be able to walk away um to to to directly answer uh uh the question what the landlord's not willing to work and that's part of the answer the other thing is unfortunately unfortunate answer there is they don't have to um it's based on what the lease says you know you you have a contract binding on both parts for a period of time and and there's too many variables you know amount of rent remaining term guarantee all the different things you'd have to look at but just remember uh you covet doesn't give you the right to just say i'm gone you know you know but this lease doesn't count i think this most surprising thing to me and i i just want to drill in the point before we move on here that um unlike a residential lease where you might owe a first and a last um a commercial lease is the totality of the lease period sure there's a there's typically an acceleration clause that says if you leave you even walk away today and you have five years left the entirety of that threat is due today it's it's due now it's not new each month down the road it's due you know uh immediately so the landlord's coming after you not for fifteen hundred dollars of rent for the one month they're coming they're multiplying all the remaining months and you know maybe it's a hundred thousand dollars they're coming after you and if there's a personal guarantee that's that that's tough one thing i'd like to ask ad additionally ruth is you know there's risk on the on the landlord owner side too um if the tenant defaults or or is not able to make payments so there's in a lot of cases there's incentive for them to try to work out a deal um if they're not getting that rent you know it could have impact on the loan if they have a loan on that particular asset uh maybe they're a retired individuals and they're dependent on uh cash flow for their living expenses and their income another thing that they have to look at is if that space does go vacant they're looking at you know if the lease is broken they're looking at potential legal fees for a company or person that may not have any assets that they're going to have to go after they're going to look at potential brokerage fees if they have to release that space out that they're going to have to pay and additionally a new tenant may require some additional tenant improvements yet that can be quite costly so there is you know there is incentive for a lot of times for the building owners or landlords to um get this worked out and i don't know if that's a good good time to maybe ask uh andy um yeah that's a great secret is on that too and some of the risks that the landlords and building owners have yeah i'm curious andy um what are you seeing on the lender's side i mean i've got you know there's two pieces so what i think is interesting um what are you seeing happening with landowners right now who are leasing commercial spaces and what kind of tools do you have to work with right now yeah thanks ruth and appreciate being part of the call um so in general i guess i would i would say this is that the majority of our our clients are are landlords if you will they're really not experiencing a a lot of issues on their rents i think that's similar to what uh both mike and and jim shared with you um but what i we also work with a lot of borrowers a lot of small businesses and i guess the thing that i would say is that you know the challenges they have are are typically a cash flow because they're not able to operate at the same level that they were previously and so you know if you're really wanting to go and and sit down with a landlord and talk about a renegotiation um you need to put some funds to it and have a plan i think if if you can go to them early as both mike and jim had mentioned and say look this is what's happening with my business this is kind of what my plan is of how i'm going to try to either maybe restructure in my business maybe i'm going to do some things differently but this is kind of my forecast of how i'm going to try to do some things differently to manage through this situation and maybe i need a kind of they have to figure that out maybe it's a 90-day relief of 30 of their answer they have to figure out what that is and sit down with the landlord and present that plan and have some reasoning as to why that's going to work because as mike talked about landlords don't really want to typically kick the tenant out unless the tenant really has been a payment issue for them or is a high demand property that they know they could just release quickly but the the landlord wants to have a plan that they think is going to work and if it is going to work then they can come to the bank and if for some reason they look at it and say you know i really think this is going to work let me talk to my bank because maybe they're pretty leveraged in the property and they don't have a lot of room to work on their payment right now and so maybe they can come to the bank and say hey this is what here's my tenant's plan and these are the reason you know why we kind of think it's going to work is there a way for us to maybe have a little bit of relief on the loan side and the banks will absolutely look at that i think that you're going to find that one of the things that the care is active that is materially different than the environment that we saw during the great recession is in the cares act it did kind of come out and say you know hey we you know particularly on the homeowner's side fannie and freddie made type loans they they kind of put a moratorium on being able to you know go after those but on on the commercial side it really didn't do anything but what it did do is on the regulators on bank regulators is bank regulators are now not coming down on banks as hard as they were during the great recession when they're wanting to work with their landlords okay during the great recession uh there's a acronym that's called a tdr troubled debt restructure and when a landowner would come to the bank and say hey i need to have some payment relief on this and if the bank granted it it was automatically labeled a tdr which is a tattoo that that loan and that borrower can practically never get rid of made it very onerous on a bank because the bank would have to also hold back more in reserve so the bank is going to be less profitable because they can't loan the money out they have to hold more in in reserve because they have these tdr loans that are higher risk um with the cares act they they lifted that a little bit now it doesn't mean it goes on forever because we're still waiting for the regulators to say okay if we give somebody 90 days of payment relief we know right now that they're not going to do anything they're not going to hit us with the tdr but what they haven't done is come out and said you know if you need to go 180 or you know more more to work with a landlord if we're going to get hit with a tdr our gap feeling is they probably will because at some point you have to have that loan performing so that's one of the things that the karazhak did i think that both mike and jim brought up that landlords are also monitored by banks based on covenants and covenants are typically what we call a debt coverage covenant so their net operating income from the property needs to generally be 125 of whatever the payment and interest is and if they fall below that there could be you know increased risk from the bank's perspective if it was maturely below that the bank might have to look at it and say we were worried about our loan to value position because a value of an income property is based on what the rents are and if the rents have materially gone down for a sustained period of time maybe the value of that property is dramatically less and now we run into another regulatory issue of your loan to value is now 105 versus before it was a 70. so those are you know real quickly you know some of the some of the challenges that that you have there um i think the other piece that you have that if you're visiting with your landlord and the landlord's talking to their bank that can be challenging is who actually holds the paper okay it because it's one thing if washington trust bank is the lender on it um there's probably a lot more flexibility there than if the lender ended up being a reit because there's a lot of these properties where they get what we call secondary market financing that is very advantageous um you know typically it's longer fixed rate terms than what a bank would normally provide but when you're in a reit those reits have guaranteed payments that they have to put out so they're the lender in those types of situations are going to be much less likely if at all willing to really negotiate with whomever has that loan so there's there's different pieces of that that come into play for the owner any other recommendations that you have for uh building orders who um are in a reach situation is there any other criteria that they can present um i mean in that situation are they back to you are they go do they have to go um whoever holds paper even if they are yeah yeah they gotta go to whoever has the paper because it isn't the bank that did it okay the bank may may have uh connected that uh building owner with um a broker that put it into the reit or maybe it's percy um things like that um percy's probably much easier to try to deal with than a reit but those are very very difficult situations once you start to get to that level um so yeah i think that's what that's going to be a very difficult position for for that building owner okay and um i want to ask one more question of you before we see if um attendees have some questions here for you um and that is what is your prediction do you think now that some of the ppp funds are running out and people have dove into their idle money and you think do you think it's uh still yet to come you know that's a great that's a great question ruth i think we could all have a incredible discussion around that uh you know jim uh and i had talked previously a little bit and uh you know if you take a look at idaho um you know idaho is still you know having incredible immigration i think gm had shared some some numbers that we had 194 percent in migration the second close this second place finisher in that realm was like at 44 so you know we have huge numbers coming in but the parts of it for me uh that give me some some pause would be uh affordability um i think if you take a look at our affordability index and you take you know which is basically a comparison of median household incomes to median household cost that has really steadily been climbing it would be nice to be able to see uh for the state uh more job growth of of uh in areas outside of probably you know hospitality and things like that if we can get a little more diversity there that that would be beneficial um my gut feeling from a state perspective i think the state is extremely well positioned group um i really do i think that we show coming out of the recession you know we got hit you know extremely hard we were a super hot market but we really bounced back extremely well and i think that you know going into this uh from a banker's perspective and you know looking at our customers and their their uh financial con positions the majority of the the clients have really done a good job of building their balance sheet and your balance sheet as a small business owner is what will either make you or break you when times get tough if you're carrying a lot of leverage it's very very difficult but if your balance sheet has if you've done a good job of kind of building that up it's going to give you a lot more flexibility to withstand this and really be able to bounce back and and propel even further when things do kind of get back to whatever the new normal is but you know i do feel very good about idaho from from north to southeast i think is extremely well positioned to bounce back out of this proof if i might just a quick question for andy and i'm just curious i know this is talking about leases but andy if you're a small business you're one of the owners on the call here um you know rent and the lease is one portion you know one expense there's salaries there's a lot of different things that go into their operating a lot of small businesses have uh you know operating lines of credit or other other financing vehicles for their operations andy would you recommendation i was thinking about this as you were talking about some of the things would your recommendation be that you know the an owner that's got that comes first and talks about what can be restructured i know the bank might say well what can you do with your rent and that that's an aspect of it but would you would your guidance be you know if you have that operating line or facility that that you address that first a d obviously early but you know before trying to negotiate individual provisions you know lease or you know salaries or different things yeah you know jim i i think that's a really good point i think that uh you know banks are in the business of of loaning money landlords typically aren't so uh as you're kind of putting together a plan uh which is what i kind of talked about initially is you got to have a plan and and put some real thought into it and you can work with your banker i mean bankers you know that they should be working with you to help you to come up with from a financing perspective looking globally your picture of what what are pieces of this maybe you have some term debt that can maybe you know have some payment relief there or maybe you take a longer amortization on some things or maybe maybe you tap some type of fixed asset to build a little bit of cushion of cash to kind of feed you for a period of time but um when you get into those situations i think you definitely got to be open and honest with your banker about it and have everything up on the table uh the the your rent is obviously part of it but um i i would really focus to to visit with your bank about it because uh that's that's what they're there for it should be and i guess and the point also being that a tenant should do the same with their with their landlord yeah i mean um you know jim talked about earlier it does it really doesn't do a lot of good to to come to your bank or to your landlord kind of after the fact after there's a problem or there you know you're going to have a problem in three weeks because honestly that that speaks a little bit to you know how well are you monitoring and managing your business if you're not able to kind of see what's happening in a window anything shorter than three weeks so be out there in front of it um even if you don't know exactly that you know what the issue might be but you know your gut feeling says man this could potentially be a problem for me sit down early before it really is a problem because the options are far more than than after it becomes a problem okay um thank you all um will do we have any questions we do uh so first question here is does a triple net lease mandate that all updates top to bottom inside and out be the responsibility of the renter i'll take a stab at that one um so if typically if it's a a uh a single tenant triple at least i mean if they're the only tenant in there unless noted in the lease they're typically responsible for everything on that that building that's why investors really like triple net leases is taxes and and upkeep and uh you know landscaping maintenance um parking lot uh uh maintenance is all on the responsibility of the tenant so yes in most cases that is that is correct unless specifically noted in the lease some sometimes the landlord will take care of the roof and structural walls and and sometimes uh hvac replacement if it's an older structure when you lease out the building but in most cases you're on the hook on a triple net lease i'd add to that is um you know to make sure folks understand triple net you know the net net net is uh insurance taxes and maintenance so those are all paid by the tenant in a true triple net true pure triple net and part of the question is are all updates you know the the obligation of the tenant to be clear maintenance is it would be the tenant's obligation again as mike said unless there's carve outs a modified triple net word says the land in order to do roof structural hvac parking lots and different things but you're not required to improve the landlord's property and don't be don't don't be in a situation where you know there's there's maybe some wear and tear and it can be repainted versus there's wear and tear and they're saying hey i need you to replace all this because it's a triple net you're not obligated to improve the value of of the asset normal wear and tear so be very uh careful to review your lease and and understand what your obligations are uh versus the landlords as far as maintenance if if the maintenance improved like is there a scenario where like the maintenance improves the value of the property or at least maintains the value of the property is there anything that is there anything that um a renter can can ask for in in that scenario like you know if it needs new carpets or something and they put it in there and now it's got brand new carpets in it is that there's any value that comes back to the renter for that unless it's negotiated with the landlord no i mean if the renter decides well hey the carpets get worn and they put in new carpets those carpets stay there when they move out and and that's a benefit to the landlord that there's not a you know again unless at least says certain improvements it would be written in specifically but in the generic you know triple net police know that the landlord doesn't uh excuse me the tenant doesn't gain a benefit other than the use of the new carpets in that example typically a landlord likes to have the property returned in this same condition when the initial lease was done in most cases right roll with them jim mike i got a question for you kind of sort of along those lines let's say i'm a i'm a tenant and i'm in american falls and i i got a you know i'm leasing 1200 feet out of a 1200 retail building and i come to you and say hey could i get some relief if i was willing to you know i have a truck and i got a plow on here i'll take care of snow removal and i'll do you know i'll mow the lawn and and kind of a sweat equity piece how do how do landlords in general kind of respond to that type of stuff mike i'll let you take a step i don't know that answer andy so i think in american falls you know it may be different for each type of property in each location you know i think in american falls you might be a little more um likely to get something like that versus in downtown boise um you know the sophistication of the of the landlord and um you know always when someone's doing maintenance and stuff you always worry about being bonded and having the proper insurance if someone gets hurt um and they're going to take a look at that but you know what it's always a good question if you know if you're you own a landscaping company and and your your wife is renting out of space and they're struggling and maybe they there can be a trade um i would say that they're probably going to look for a uh whatever the bid is for them to maintain that that uh that um work worth their contractor might be a couple trade out for the same amount of rent but i think it's going to depend on where you're at i don't know you mentioned maybe a single tenant situation where you're the only tenant and you're paying for it that may be more like if you have multiple tenants and the cost is going to be spread you know the landlord probably is going to say look i've got a group of vendors i work with i'm comfortable with them i know the quality of work so i'm going to hire them and thank you for your offer you know if you're the only one in the building you say well hey i'll maintain the yard um you know although if you're the only one in the building more than likely it's a triple net leasing you're required to maintain it so uh you know there may not be the benefit of trade off there you you can hire yourself if you need yeah i think mike's point is a good one though a lot of it's going to depend a lot on kind of where you're at and what i guess some of the other competing factors are within those communities i i can tell you guys um speaking from somebody a perspective of somebody who did take care of landscaping in a commercial lease situation it is way better to have somebody else do that for you no matter what um we do have another question in here i'd love to ask the group um and it's advice advice for non-profits of all sizes so nonprofits are seeing a higher demand for their services but lower revenue so they're in this interesting situation where grants are harder to come by a lot of their traditional donations are just not coming in just because of the consumer confidence and so do you have any specific advice for for nonprofits well i guess i'd start by saying i'm on the board of a couple different nonprofits so i know exactly what they're saying it's a tough time and for a lot of them uh you know the ppp uh depending on the type of organization is the government relief wasn't available um you know they didn't they didn't qualify for it so it so it's been a particularly tough time particularly when you look at the services these non-profits are providing uh families in need maybe it's domestic abuse and and look everybody's home and there's you know incidents have been on the rise so uh a very very very important sector of our community in our economy that the nonprofits and unfortunately there's no uh i'm sorry to say other than a you know pulling on the heartstrings of the landlord a bit there's no magic pill you know that in your lease because you're non-profit unless there's an opportunity to have the landlord recognize rent relief as a charitable contribution and i say unless because charitable contributions can only be you know there's and i'm not an accountant so i'll get way out of line here but you know can only be offset against income if the landlord's in trouble they're losing money a general contribution doesn't do them much good um they don't need a contribution if they're going to be foreclosed on because they give up the rent but there there may be some opportunities where you can approach your landlord and say hey can we can we recognize make up a number here we have a thousand bucks a month rent can would you be interested in reducing it by 500 bucks a month and and we will you know recognize that and provide the documentation as a charitable contribution for your taxes it's one one idea i don't haven't tried it but anybody else yeah you know i'd like to go with gym from being involved in in other nonprofits i know it is tough but i'll be honest with you i've actually seen a couple that i'm involved with that really have done extremely well i think you know i don't know why they they executed so much better in their fundraising than than others um but i guess i i would say don't give up hope because i think communities recognize the value that our nonprofits have to to the entire community and and that you know people are wanting to help those in need um and so don't give up hope uh maybe visit with others who have had some success um because you know maybe there's some ideas or some strategies that you could implement in your non-profit that would be beneficial so i guess that's my tidbit i also serve uh like the other two gentlemen that are panelists here serve on some non-profit boards and uh one of the boards that i'm on we we didn't necessarily qualify for some of the tpp loans but uh the state of idaho does have some grants that uh the particular nonprofit i was involved in we we checked some of the boxes that were able to get um some money to help us along with some of our expenses so um not really to do with leasing but i would i would check with the state of idaho and see if there's some potential grants on some of these non-profits that could help out a little bit and it it will depend on what you what type of relief you you've benefited from you know if you've got ppp you may be excluded from some other things like so you know there's no simple answer to it but but look into all the relief opportunities that are out there in terms of renegotiating leases though is there any strategy that you see as being better i mean you it was a good one you know to to do a charitable contribution but anything else that whether going to the bank and looking for some solution or going to a landlord and looking for a solution i think it kind of falls on the same as any other tenant i mean it's obviously that you know a non-profit does pull the heartstrings a little bit further but the end of the day if a building owner is relying on that rent to make their payment to the bank it really has the same impact on them whether it's a mcdonald's or a 501c they still have to find the same solution yeah ruth i don't i mean honestly the the charitable contribution was kind of off the top of my head i i don't have any other suggestions you know and there's not a whole lot okay is there anything that can be done lender side if the tenant is or if a tenant is a non-profit is a non-profit as a tenant and that landlord came to the bank and said okay they're having a rough time what's the win when in is is there anything specific honestly from a bank's perspective we'll probably look at it whether the same way whether it was a non-profit or whether it was uh bill and susie smith's you know sewing shop because uh you know we we can't have treat treat them materially different just because one is non-profit and one isn't there's no regulatory exceptions to those are there andy i mean it's you're going to look at the same the government mandated ratios you have to maintain it doesn't distinguish between non-profits okay so amy little who asked this question makes makes a really good point it might be a good kind of segue to wrap up our webinar today which is um you know talking to them we should be talking non-profits like they're a business um solid advice is to think like a business and approach their landlord with that in mind as well knowing that you have i'm adding on to this amy so excuse me knowing that you have value certain value to your landlord understanding what that value is um and then leveraging it when you can to a mutually beneficial agreement we have a saying in business consulting that constraint drives innovation the constraint of covid is certainly driving innovative revenue models and customer acquisition strategies and landlord lease negotiations and there's no reason that that and i've seen it personally apply to nonprofit fundraising strategies and and uh you know changing active markets or or focusing on certain programs that that bring in a little bit more revenue to to get through these copic times um so really really good point amy and i'm sorry i expanded on it probably more than i should have um ruth do you have anything else any last we have time you know we just have five minutes left any last questions for for the panel oh you're you're muted most of my questions have been um answered uh unless any of you can think of any other message that you want to send especially to small business owners and small landlords to help them weather this in the best way possible i just would say what i said earlier and you know sincerely everybody hang in there we are in a great place being in idaho i know andy mentioned earlier the postcovid i i saw a recent article that talked about net migration the top nine states in the nation as far as net migration since march where's everybody running as a result of covet number two on that list was new mexico with a 44 increase in net migration number one was idaho 194 people are flocking here so uh it is going to get better it's it's it's not tomorrow this is gonna be with us for a bit but if folks can be creative and find ways and keep hanging in uh it's gonna get better and and we're fortunate that we are where we are sounds like we're going to be back with a whole nother set of problems we'll have our growth seminar again you know come next year but uh oh my gosh we don't have any inventory exactly infrastructure everything else uh you know i will make one plug ruth and i apologize but we do have in the world of virtual uh presentations we have our annual outlook seminar which is our college statewide look at the economy in the real estate economy we do it every year we have 500 or so attendees this year it will be virtual so anybody around the state around the country it's october 27th from 10 a.m to 11 30 and if you just go to colliers idaho outlook all one word collier's idaho outlook dot com you can register for it and we'll have you know an opportunity to talk to you can talk to folks one-on-one in industrial and retail and off all the different areas uh to get a bet you know an idea and we'll be you know four weeks further down the road may e a little bit more and businesses might very well want to uh um check that out did anybody uh grab that information for the chat i hope so we'll get it from you and make sure we can include it in the follow-up email as well yeah thanks will okay everybody i'm going to share my screen again just um so we can just share our information one more time with everybody uh so so thank you all for attending uh this webinar andy jim mike ruth thank you so much for deep diving into some of these issues that both landlords and small businesses are facing today in this rapidly changing covid19 economic environment um so thank you to our panels thanks to all of you who joined in and thanks for your questions if if you need help with your business you can contact us at the idaho spdc there's there is uh the website right there at the bottom of the screen idahosbdc.org we have a great page with resources for businesses around coven19 you can see that link at the bottom there it's just covenanting resources i highly encourage anybody who needs um in-depth help with their business to contact us we have consultants all over the state so no matter where you are we have somebody that can work with you at no cost it's professional it's confidential and we really want to make sure that we're leaving no stone unturned when it comes to helping idaho's economy recover recover that's why we're here and that's that's what we want to help you with so um so thank you again uh please reach out to sbdc if you have any questions about this webinar or your business at all thanks to the panelists and we will see everyone next time

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How to electronically sign a PDF document on an iPhone How to electronically sign a PDF document on an iPhone

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How to sign a PDF on an Android How to sign a PDF on an Android

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How do you make this information that was not in a digital format a computer-readable document for the user? " "So the question is not only how can you get to an individual from an individual, but how can you get to an individual with a group of individuals. How do you get from one location and say let's go to this location and say let's go to that location. How do you get from, you know, some of the more traditional forms of information that you are used to seeing in a document or other forms. The ability to do that in a digital medium has been a huge challenge. I think we've done it, but there's some work that we have to do on the security side of that. And of course, there's the question of how do you protect it from being read by people that you're not intending to be able to actually read it? " When asked to describe what he means by a "user-centric" approach to security, Bensley responds that "you're still in a situation where you are still talking about a lot of the security that is done by individuals, but we've done a very good job of making it a user-centric process. You're not going to be able to create a document or something on your own that you can give to an individual. You can't just open and copy over and then give it to somebody else. You still have to do the work of the document being created in the first place and the work of the document being delivered in a secure manner."

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Download pdf file. Use this link. Print the pdf file and sign. Can anyone download my signed pdf file for me ? Not at your request. Please sign the pdf files using the link above. Can I use my printer's ink to sign a pdf file and save it to my pc? No. Printing ink does not have the same density as a laser printer. If a pdf file is printed on black paper, will the text disappear? Unfortunately there is a possibility of text being printed on the paper, which is invisible on the pdf file. Is there any way to make the pdf file printable on different paper colors? If you use a PDF Converter, you can use the color profile of the pdf file as a reference to find out the color of other printing paper. You can download the Adobe Color Profile and use it to colorize pdf file. Can I print an original pdf file on black paper? Not easily. PDF files are created as color images, so in order to be usable, PDF files need to be printed on a color printer. Can I print an original pdf file on white paper? If you print an entire pdf file on a color printer (or just a part of a pdf on a color printer) you will not see what the pdf file is actually showing. But you can still read the text on the front of most pdf files. Can I use a digital camera to print an original pdf file? Yes, but please note, if you use a digital camera in order to create and print a pdf file, you can only print the pdf on a non-colored printer. Can I use a laser printer to print an original pdf file?...

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What are the advantages and disadvantages of using PDF file for your business documents? Which are the best methods of scanning pdf using scanner? What is the advantage and disadvantages of scanning pdf using laser printer? How Can PDF Be Useful in your Business? Using pdf, you can create a document which is suitable and easily digestible by everyone. It's good for presentation of important documents and for writing up your report. You can also use it for printing documents. What Is PDF Document and How do I Use It in my Business? PDF stands for Portable Document Format. PDF documents are easily readable and shareable online. They are also compatible with many print and digital publishing systems. It uses an easy to learn, intuitive interface to provide its features. Here are a few useful features of PDF documents: It is the main format used by most of the online software platforms. It is very versatile and can serve as a digital template for creating documents, presentations, and online stores. It makes the document easy to read. In case it is not clear about the purpose of pdf document, it can serve as a guide which will help others in understanding what is the purpose of the document. PDF Documents Are Easily Readable and Shareable Online – Best way to Create a PDF Document in Business How to Create PDF Documents in Business? There are many ways to create pdf document in business. You may choose to create the same document using different methods and...