Vancouver Commercial Real Estate Podcast REPOST: VCREP #3 | Bulletproof Leasing for Financial Success with Scott McInnes
Feb 12, 2025
Scott McInnes, founder of McInnes Law Group, specializes in commercial real estate law. He breaks down the complexities of commercial leases versus residential ones, emphasizing the importance of legal expertise for landlords and tenants. The conversation reveals how COVID-19 has reshaped leasing dynamics. Scott shares insights into the Vancouver market, the necessity of assembling a strong team for property management, and humorous personal anecdotes during a fun segment that touches on favorite movies and books.
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Commercial Lease Definition
- Commercial leases grant tenants exclusive use and enjoyment of a property, similar to residential leases.
- However, commercial leases lack the strict statutory constraints of residential leases, offering more flexibility.
Commercial vs. Residential Lease Regulation
- Commercial leases are not heavily regulated by statutes like residential leases under the Residential Tenancy Act.
- This allows for greater negotiation and flexibility in terms of rules and remedies for both landlords and tenants.
Seek Legal Counsel
- Don't handle commercial leasing without legal counsel due to complexity.
- Seemingly minor wording differences can have significant financial implications, so expert review is crucial.
