25 blog posts Filter

The Blog

Commercial vs Retail Leases

March 7, 2024

Uncategorized

Whether you’re a Landlord or Tenant, understanding the difference between commercial and retail leases is pretty important; whilst the rules are similar, they are also quite different regarding the obligations from the Tenant. Let’s break it down in simpler terms:   What is the difference? A retail lease is used where there is a sale […]

Vacant For 18 Months With Another Agent

February 29, 2024

Leasing Marketing Sales

For 18 months, this office just sat vacant, gathering dust with an online listing that had little information and dark low quality photos. Then Modo came along and flipped the script. In the end, we didn’t just sell the office; we exceeded expectations by selling it for more than the asking price! How did we […]

Public Liability – What Is It Good For?

February 22, 2024

Property Management

Public Liability insurance isn’t just another box to check off for your business – it’s your safety net when things go sideways. It covers the Tenant themselves, their staff, contractors, customers, and members of the public for legal and other associated costs, as well as other expenses if – while running the business – a third […]

First Time Commercial Tenant?

January 9, 2024

Leasing Tips

Thinking about leasing your first commercial property? Let us start by clarifying that it’s nothing like your typical residential lease! Commercial leases are tailored to reflect an agreement between a Landlord and Tenant; unlike residential, it is a very personalised document and very few commercial leases are the same. Here are a few things that first time […]

Following Up Clients = More Deals

October 20, 2023

Leasing Marketing Sales

“Initiative is like a magical cure-all elixir. Pick up the phone and make a call, send an email, follow up all leads.”   Our commercial team did two off-market deals this week, one sale in Bundoora and a lease in Ringwood. Both came to fruition because of how we follow up with our clients. 16 […]

Is a Bank Guarantee safer than a Security Deposit?

October 13, 2023

Leasing Uncategorized

If you are entering into a commercial or retail lease, you will need either a security deposit or bank guarantee. A security deposit is a cash bond whereas a bank guarantee is an undertaking from a bank or credit union to guarantee payment of the amount to the Landlord in case of Tenant default. Bank […]

Don’t Drop Your Pants on Your Listing Price Until You’ve Tried These Things First!

June 9, 2023

Leasing Marketing Sales

As much as real estate agents love to say that we know what a property is going to sell and lease for, we can’t look into a crystal ball and see the future. There are many factors at play that influence the market or demand for properties and these conditions can change very quickly. That […]

Q & A – Handing Tenants Outgoings to Pay Directly to Creditors

May 5, 2023

FAQ Property Management

I attended an appointment this week with a potential new landlord of a terrace-style premises on a prominent strip not too far out of Melbourne’s CBD. The owners were absolutely lovely and had been self-managing the premises for 30 years having (very fortunately) only a few problem tenants, but it is now time for them […]

A Guide to Rent-Free Etiquette

April 27, 2023

Leasing

Rent-free periods are traditionally offered to an incoming tenant in lieu of landlord works. Basically, if the tenant has a fit-out requirement for their business, instead of the landlord paying for this work, the tenant organises it themselves and is compensated with rent-free. Sometimes a rent-free period is offered to a tenant purely as a […]

Don’t Mess Around, Just Get That Property!

March 30, 2023

Leasing Sales Uncategorized

Have you or someone you know said this recently? “I’ve just missed out on a property I wanted” “It’s just gone under offer” “The agent said they actually sold off market” “There were multiple offers” As agents, we spend a lot of time on the road and there has been a notable increase in ‘sold’ […]

The Importance of Usage in a Commercial Retail Lease

March 9, 2023

Leasing Uncategorized

With real estate news seemingly focusing exclusively on rising interest rates and correlating market movements one wouldn’t think that tenancy usage would be a big deal, however, it’s quite a topical issue at the moment. Like anyone with a mortgage right now, the financial squeeze is hitting small business owners (many of whom are still […]

Is too much information doing damage to your property listing?

February 23, 2023

Leasing Sales

Over the past couple of decades, there has been a real attitude shift amongst real estate professionals regarding the amount of property information that is displayed to the public when advertising. This happened circa 2005-2007 and almost directly correlates with the rapid rise of realestate.com.au and realcommercial.com.au (REA group), commercialrealestate.com.au (Domain) and propertylook.com.au (commercial portal […]

What is Happening in the Commercial Lending Market?

February 16, 2023

FAQ

This week we have a special guest, Nathan Coad, to answer some of our burning finance questions. As agents we are not allowed to give financial advice, so we brought in an expert. Nathan is a finance broker with over 15 years of consumer and commercial banking experience. How does LVR typically differ between commercial and residential loans? […]

8 Top Tips For Choosing The Right Location To Grow Your Business

February 10, 2023

Uncategorized

Wanting to know if a space will be suitable for your business?  Understanding and addressing key factors such as location, competition, and the local community are all important points to consider when trying to find the right the perfect location for your business. Clear and informed decisions made during the property search promote a sense […]

What Happens If My Tenant Wants To Break Their Lease?

January 26, 2023

FAQ Property Management

“My commercial tenant wants to break their lease. What now?” Most retail and commercial leases in Victoria make it clear in their conditions that a tenant must cover all their landlord’s reasonable out-of-pocket expenses when it comes to terminating before the end of a fixed term. This would be inclusive of (but not limited to) […]

Please, Have All The Information

January 19, 2023

Leasing Marketing Sales

The musings of a commercial agent Last Sunday I went for a walk along Riversdale Road in Hawthorn because, frankly, I like checking out retail strips. I’m not embarrassed to admit that I deeply enjoy admiring historic brick buildings and taking in the ‘personality’ of each suburb, city, or country I walk around in with […]

Virtual Tours - The Modern Approach To Marketing

January 5, 2023

Marketing

If pictures speak a thousand words then our virtual tours speak four – 4k resolution that is! Only around 3 – 5% of listings in Australia at any time include a virtual tour which we think is crazy considering the benefits of this technology. Even fewer use the industry-leading Matterport system to create a ‘digital […]

Why Landlords Move Their Managements?

December 15, 2022

Property Management

Do any of these issues apply to you and your tenanted property? The rent is always late Your management fees are too high You struggle to get a response from the managing agent Maintenance problems The tenant is more than a month in arrears   Modo recognises the three most common reasons a Landlord may […]

Yes, Professional Marketing Makes A Difference

November 24, 2022

Leasing Sales Tips

With phone technology undergoing serious improvements over the years, more agents are arguing that smartphone cameras can now replace professional photography. What does this mean for commercial real estate marketing? I can still remember being in my early 20s and my first boss telling me “the advert only needs to be good enough to get […]

Assessing Tenant Suitability

November 17, 2022

Leasing

There’s a lot that happens between a Tenant agreeing to lease a property and the lease commencement date. Namely – there’s a lot that goes into assessing the suitability of a commercial property and whether it provides value for the Landlord as well as for the Tenant. Once our leasing team has successfully found someone […]