Stephen Hachey

Mr. Hachey opened his real estate law practice in Tampa, Florida in 2007. He is admitted to the Florida Bar and is also a graduate of Florida State University, earning his law degree in 2005. He is also a current member of the National and Florida Board of Realtors, the Florida Bar (Bar number 15322), and a Circuit Civil Mediator in the state of Florida.

The Encyclopedia of External Obsolescence in CRE

Table of Contents How Does External Obsolescence Differ from Functional Obsolescence? Common Causes of External Obsolescence Economic Shifts Environmental Changes Government Policies Technological Disruptions Population Shifts Competing Developments The Impact of External Obsolescence on Property Value How Appraisers Account for External Obsolescence Can External Obsolescence Be Reversed? What Are the Early Warning Signs of External […]

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Arm’s Length Transactions in Real Estate

What Are They? Arm’s length transactions in commercial real estate occur when two unrelated parties negotiate a deal independently and without external pressure. Each party operates in their best interest, ensuring fair market value for the property. These transactions are essential in maintaining transparency and integrity in high-value deals like office buildings, retail spaces, and

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What is a Latent Defect in Real Estate?

Latent defects are hidden issues in a property that are not immediately apparent during a standard inspection. Unlike patent defects, which are visible and can be noticed upfront, latent defects often go unnoticed until after a property is purchased or leased. These could include things like hidden mold, faulty plumbing behind walls, or structural issues

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Calculating Loss to Lease [FORMULA + EXAMPLES]

Loss to lease represents the difference between the market rent a property could command and the actual rent being collected. This discrepancy often arises due to long-term lease agreements or outdated rental rates. For example, if the market rent for an office space is $50 per square foot but the current lease agreement only charges

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Perpetual Leases: Everything You Need to Know

Commercial leases could be considered as the infrastructure backbone of many business operations. After all, it provides the space and security companies need to thrive. Among the various types of leases, the perpetual lease stands out as a unique arrangement. A perpetual lease, also known as a permanent or evergreen lease, offers an indefinite leasing

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Subordination Agreements Explained [Template Included]

Understanding financial responsibilities in real estate is high on the list of anyone’s list, whether they’re an investor, lender, or property manager. One of the key instruments in defining the hierarchy of these responsibilities is the subordination agreement. These agreements play a big role in structuring the priorities of different creditors, especially when multiple stakeholders

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