A prospective tenant wants an elevator in the building. An elevator would cost about $750K to install. The building is worth about $5-6M unoccupied. The last tenant was paying about $450K/year in rent. If the tenant would agree to a long-term lease, I think that an elevator install makes sense. What would be a reasonable lease term for this kind of an upgrade? submitted by /u/No_Reveal3451 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1r2s94e/if_the_prospective_tenant_wants_an_elevator/
I’m the administrator for my mom’s estate. I’m selling her low income condo. The whole process has been a nightmare. Received the Certificate of Occupancy last month. Closing is scheduled for next week. I went down yesterday to make sure the pipes were okay since it’s been so cold. I left the thermostat on 62 and it was 62 when I got there. Turned the heat up and it went on for 1 minute and went right off. Long story short, I’m having a new furnace installed today. My mother didn’t take care of anything and the furnace is almost 30 years old. I’m 99% sure there will be an open permit. What do I do? I will be calling my attorney later. Thank you for any advice/help. submitted by /u/sunshore13 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1r2qjxu/help_selling_home_in_nj/