major expense fund....

this is not my idea....  this is poseidons idea....  as a landlord....  he came up with this brilliant idea.....

here is how it works....  typically....  a tenant is responsible for paying for ALL operating expenses....  including the big ones....  if....  the parking lot....  needs replacing....  the tenant has to pay for it....  if the building needs painting....  the tenant has to pay for it....  if the hvac needs replacing....  the tenant has to pay for....  quite a racket for the landlord....  right....

these expenses are once in a blue moon expenses....  you might paint a building once every seven or ten years....  you might need to replace the air conditioning....  once every twenty years....  and....  the same for the parking lot....  you might need to replace it once every twenty years....

so....  what if you are the first tenant....  and....  you only stay eight years....  then you lucked out....  you got to use most of the new paint and new hvac and parking lot....  but....  you did not pay a dime to use these parts of the property....  and....  then....  say....  you are the tenant who moves in after ten years....  day one....  you have to pay for a paint job....  you have not even used the building for a day....  and....  you have to pay for a new paint job....  or....  even worse....  you move in after eighteen years....  and....  after two years....  you have to pay for an entirely new hvac system and a brand new parking lot....  even though you did not use it....  for most of their useful life....  you still have to pay for thier replacement....  does not seem fair....  does it....

also....  even if you were the tenant the whole time....  if you moved in day one....  and....  you stayed twenty years....  you did NOT plan ahead....  you did not save....  in order to replace the parking lot....  or....  hvac....  when they needed replacing....  so....  you end up....  like the bread basket....  trying to run a business....  without....  an hvac....  and....  slowly....  your business deteriorates....  until you have none....

so....  here is poseidons idea....  create a major expense fund....  a fund that will be used to maintain the parking lot and the hvac and eye may have thrown in a new paint job....  charge the tenant....  say....  twenty five cents per square foot....  to build a fund....  to maintain these major expenses....  and....  more importantly....  replace these items....  when they need replacement....