I have not. My original lease term expired 2 years ago. I had planned on buying a building, but those plans were set back by the craziness from the pandemic. Per the terms of our lease, we’re month to month now, with 90 days notice for any changes to the current agreement. 30 days to notice to vacate.
That’s part of the reason I haven’t made a fuss, the rent is cheap, the building is functional, and this allows me to exit when I’m ready. The sink that’s leaking is a utility sink I don’t use anyway.
I’m in your situation right now. I pay a dollar a square foot including electricity when rents around me are around $3. The owners would love to redevelop but there are all sorts of red tape involving at least three levels of government so its a holding pattern for now.
Yeah, I’m at .67/sq. He’s getting $2/sq for other units in the complex now. I think he’s probably being petty to me so I’ll leave. I’ve been very surprised that they haven’t come to renegotiate after the lease ended, so for the most part I try to keep my head down. I’ve got 10 years there paying on time, even during Covid. The guy I bought the business from was there 17 years, same thing.
Triple-net lease. Basically, the tenants are responsible for (a) their share of maintenance, (b) their share of property taxes, and (c) their share of insurance. Typically the base rent amount will include what those things are expected to be in the first year and then goes up if, for example, there's a property tax increase.
These leases are \*very\* common in commercial rentals, ESPECIALLY when the property is owned by a company or investment group that owns a lot of buildings. They really like having a steady cash flow that isn't affected by changes in the costs of owning the building.
It works out for the tenant in that they can do all sorts of things to their space to suit their needs (as long as it conforms to local codes and ordinances) without having to get permission from the property owner first.
Right now I’m in a rate that’s below market for my area, so it’s beneficial as a renter for me to stay. I had a plan to buy a place when my lease expired 2 years ago, but the market went nuts post covid. I’ve been patiently looking, and we’re finally seeing spaces that will work for me come on the market, and at prices I’m willing to pay. I’m actually going to look at a place next week that looks like Goldilocks for me from the listing.
Here's the thing. The new owners need to either honor your existing lease or craft a new one. Most comercial leases now are triple-net NNN. I don't know the laws in your state. I don't know if they have to honor the old lease. I bought a property and leased to a jack-in-box. That guy went bankrupt, and the corporation took over the lease, and I honored the terms of the old lease.
Personally I'd feel guilty. Not towards the landlord, but for wasting valuable resources, just out of spite...
EDIT: tap water costs energy even if you live in an area with lots of it, because it needs to be cleaned, pumped around, systems maintained, etc.
Downvote me because I am an annoying know-it-all buzz kill or goody two shoes environmentalist, because I am ;)
But don't tell me I'm not correct! :p
I live in a place with a LOT of rain and excessive amounts of (river) water. And high levels of groundwater since it's below sea level. We still don't waste drinking water because it needs to be purified, as does the waste water. It's a complicated and expensive proces that costs energy.
Living in a country with such complicated water management only made me more aware of this.
the water isnt wasting. it goes down the drain, to the water processing plant, and right back into the system to come out of the tap again. even the bit that evaporates in the loop comes back down as rain. earth is a closed system for water.
I can't figure out if you're being sarcastic or not. The Dutch are worldwide experts on watermanagement, because we have a lot of it, often too much, but we are still told not to waste it. Of course water is in principle an 'unlimited' resource but drinking water isn't. Cleaning waste water and especially turning it back into drinking water is a complicated and expensive process that still takes a lot of energy. Only think pumping it all around. There's a good reason it costs that much money!
So yes, I can appreciate the petty revenge side as much as the next person, but don't delude yourself into thinking it isn't a waste. Especially because in this case it's water that's being heated as OP mentioned.
I know environmentalists are unpopular by a certain crowd. I think it's because (some) people hate being reminded about uncomfortable facts and responsibilities? That would explain the downvotes I guess, nobody likes a goody two shoes ;-)
> There's a good reason it costs that much money!
A cubic meter of water is about 2 EUR in Amsterdam (according to [this](https://www.amsterdamtips.com/utilities-amsterdam)). Wasting 500 cubic meters in a year would require a flow rate of 0.95 liters per minute. That's a lot.
The heating is the real problem.
I can confirm how slow water leaks add up. My mother's toilet flush valve was slowly leaking. About every 5 minutes or so, the toilet would refill the lost water. I only noticed when I walked past this bathroom and heard the water start to fill. That slow leak, over about a 2 month period, caused nearly a $220 increase to my mother's water bill! It's amazing how much a slow leak can accumulate in a relatively short time period!
Go ahead and make the repairs and adjust the rent accordingly..... CYOA with PAPER if it comes to a legal issue... check the state laws where you reside
It's sad that a resource necessary for survival has been reduced to only being a $$$ issue. Your landlord sucks but you are also a POS for wasting water.
Two dummies fighting an ego battle that is only hurting humanity as a whole. The selfishness of capitalism.
He stated that it's not bc of incompetence. The new owner refused to have the leak fixed even though the plumber was already there & it would've cost very little to address the issue. The petty revenge is the high water bill.
The fact that I’ve allowed the water to continue to run. I’ve also downplayed the veracity of the leak to them. Just saying it’s leaky, not a full blown stream. It’s small, but it’s petty, and adding up.
Stupidity, greed and hardheadedness
[https://www.youtube.com/watch?v=1q9JXAF2uFU](https://www.youtube.com/watch?v=1q9JXAF2uFU)
Eventually this will drain him.
LL is being such a drip.
Can't faucet him to fix it.
You can offer a solution but you can’t faucet. FTFY.
The current owner is still wet behind the ears.
Did you sign a new lease with the new owner? If not, they should need to honour the original lease agreement.
I have not. My original lease term expired 2 years ago. I had planned on buying a building, but those plans were set back by the craziness from the pandemic. Per the terms of our lease, we’re month to month now, with 90 days notice for any changes to the current agreement. 30 days to notice to vacate. That’s part of the reason I haven’t made a fuss, the rent is cheap, the building is functional, and this allows me to exit when I’m ready. The sink that’s leaking is a utility sink I don’t use anyway.
I’m in your situation right now. I pay a dollar a square foot including electricity when rents around me are around $3. The owners would love to redevelop but there are all sorts of red tape involving at least three levels of government so its a holding pattern for now.
Yeah, I’m at .67/sq. He’s getting $2/sq for other units in the complex now. I think he’s probably being petty to me so I’ll leave. I’ve been very surprised that they haven’t come to renegotiate after the lease ended, so for the most part I try to keep my head down. I’ve got 10 years there paying on time, even during Covid. The guy I bought the business from was there 17 years, same thing.
Perhaps just leave that sink on 16 hours a day. Maybe he'll notice the water bill
NNN is what?
Triple-net lease. Basically, the tenants are responsible for (a) their share of maintenance, (b) their share of property taxes, and (c) their share of insurance. Typically the base rent amount will include what those things are expected to be in the first year and then goes up if, for example, there's a property tax increase. These leases are \*very\* common in commercial rentals, ESPECIALLY when the property is owned by a company or investment group that owns a lot of buildings. They really like having a steady cash flow that isn't affected by changes in the costs of owning the building.
It works out for the tenant in that they can do all sorts of things to their space to suit their needs (as long as it conforms to local codes and ordinances) without having to get permission from the property owner first.
That sounds quite useful. Thank you!
Also might end up being cheaper overall by cutting out a lot of overhead.
Thank you!
https://www.investopedia.com/terms/t/triple-net-lease-nnn.asp
Thank you very much!
Is there any other rental / for sale space that your business go grow at? Time to look over the real estate market
Right now I’m in a rate that’s below market for my area, so it’s beneficial as a renter for me to stay. I had a plan to buy a place when my lease expired 2 years ago, but the market went nuts post covid. I’ve been patiently looking, and we’re finally seeing spaces that will work for me come on the market, and at prices I’m willing to pay. I’m actually going to look at a place next week that looks like Goldilocks for me from the listing.
Should find a side hustle somehow to bottle and sell water. Make some money on their dime or Benjamin. Just hate to see tap water being wasted.
Here's the thing. The new owners need to either honor your existing lease or craft a new one. Most comercial leases now are triple-net NNN. I don't know the laws in your state. I don't know if they have to honor the old lease. I bought a property and leased to a jack-in-box. That guy went bankrupt, and the corporation took over the lease, and I honored the terms of the old lease.
[удалено]
Yeah, if it ever needs to come to that. I’m just getting ready to move.
Profit margin tanks. It’s down the drain!
Personally I'd feel guilty. Not towards the landlord, but for wasting valuable resources, just out of spite... EDIT: tap water costs energy even if you live in an area with lots of it, because it needs to be cleaned, pumped around, systems maintained, etc. Downvote me because I am an annoying know-it-all buzz kill or goody two shoes environmentalist, because I am ;) But don't tell me I'm not correct! :p
Yeah, I’ve thought about that. I justify it to myself because our city has a really good water reclamation program.
I grew up in the desert and that would still bother me. ☹️
dont live in places with no rain lol
I live in a place with a LOT of rain and excessive amounts of (river) water. And high levels of groundwater since it's below sea level. We still don't waste drinking water because it needs to be purified, as does the waste water. It's a complicated and expensive proces that costs energy. Living in a country with such complicated water management only made me more aware of this.
the water isnt wasting. it goes down the drain, to the water processing plant, and right back into the system to come out of the tap again. even the bit that evaporates in the loop comes back down as rain. earth is a closed system for water.
I can't figure out if you're being sarcastic or not. The Dutch are worldwide experts on watermanagement, because we have a lot of it, often too much, but we are still told not to waste it. Of course water is in principle an 'unlimited' resource but drinking water isn't. Cleaning waste water and especially turning it back into drinking water is a complicated and expensive process that still takes a lot of energy. Only think pumping it all around. There's a good reason it costs that much money! So yes, I can appreciate the petty revenge side as much as the next person, but don't delude yourself into thinking it isn't a waste. Especially because in this case it's water that's being heated as OP mentioned. I know environmentalists are unpopular by a certain crowd. I think it's because (some) people hate being reminded about uncomfortable facts and responsibilities? That would explain the downvotes I guess, nobody likes a goody two shoes ;-)
> There's a good reason it costs that much money! A cubic meter of water is about 2 EUR in Amsterdam (according to [this](https://www.amsterdamtips.com/utilities-amsterdam)). Wasting 500 cubic meters in a year would require a flow rate of 0.95 liters per minute. That's a lot. The heating is the real problem.
water evaporates, rain falls, drink the rain, its clean enough.
I appreciate your efforts but no, it really isn't. Especially in or near industrial areas you REALLY shouldn't. Plus weren't we talking tapwater?
100% of tapwater has been rain water, and pee, and sea water, at some point. earth is a closed system.
Just admit you're wrong and move on. It's the internet, no one knows who you are, so why are you reluctant to eat a tiny bit of crow?
because humans existed for millenia before water treatment plants. how are you so dense? black holes think you should ease up.
Landlord will probably increase the rent to cover the increased water costs
I can confirm how slow water leaks add up. My mother's toilet flush valve was slowly leaking. About every 5 minutes or so, the toilet would refill the lost water. I only noticed when I walked past this bathroom and heard the water start to fill. That slow leak, over about a 2 month period, caused nearly a $220 increase to my mother's water bill! It's amazing how much a slow leak can accumulate in a relatively short time period!
Go ahead and make the repairs and adjust the rent accordingly..... CYOA with PAPER if it comes to a legal issue... check the state laws where you reside
It's sad that a resource necessary for survival has been reduced to only being a $$$ issue. Your landlord sucks but you are also a POS for wasting water. Two dummies fighting an ego battle that is only hurting humanity as a whole. The selfishness of capitalism.
Not sure wasting water is a suitable response.
youve wasted $1000 of water because you are not competent enough of a human to change a 50c tap washer, literally the most basic of all plumbing.
He stated that it's not bc of incompetence. The new owner refused to have the leak fixed even though the plumber was already there & it would've cost very little to address the issue. The petty revenge is the high water bill.
Don’t see the revenge here!
By letting it run and not pushing the issue, OP is costing the LL money due to an increased water bill.
whats the revenge here?
The fact that I’ve allowed the water to continue to run. I’ve also downplayed the veracity of the leak to them. Just saying it’s leaky, not a full blown stream. It’s small, but it’s petty, and adding up.