Perhaps the only positive aspect of the COVID-19 shutdowns, at least from a commercial leasing perspective, is how it made landlords aware of just how dependent on their tenants they are. The real winners of the pandemic were the landlords that found a way to work together with tenants to adjust...
Jump-start your leases to prepare for tenant demand and legal compliance.
With electric vehicle (EV) purchases on the rise, a new fixture has begun to appear in the parking lots of office buildings, shopping centers, medical facilities, and other commercial properties...
Percentage rent tenants are typically required to give landlords the monthly sales reports they use to calculate their percentage rent. All too often, though, the tenant provides only its gross sales figure—the amount on which percentage rent is calculated under the lease agreement. It...
One of the few positives to emerge from the pandemic for commercial leasing was how it got landlords and tenants to set aside historical mistrust and work together for their mutual welfare and survival. While the pressing issue at the height of the COVID-19 crisis was restructuring rent...
Working from home and other post-COVID business realities have made many office tenants reluctant to sign a long-term lease. One way to overcome this is by offering tenants the option to terminate the lease early if the rent becomes unaffordable or the space becomes unnecessary. But while...
It costs a lot of money to maintain a heating, ventilating, and air conditioning (HVAC) system. There’s also a lot at stake. Keeping the HVAC system humming is crucial to maintaining comfort, ensuring air quality, and, in some cases, preserving tenants’ stored inventory. Accordingly...
Pet rules in a commercial lease? At first, I thought this was a terrible idea for an article. After all, the vast majority of commercial landlords in the U.S. don’t permit pets on the property—to the extent they even consider the issue at all. And it was for that very reason...
With a recession looming, commercial landlords and tenants may once again need to exhibit the flexibility they displayed to get through the COVID-19 pandemic. While helping tenants meet their rent obligations will be the first-choice approach, landlords also need to be prepared in case tenants...
Offering ROFOs is a great way to attract flourishing businesses. But it comes at a price.
Moving to a different building can be costly and disruptive. Accordingly, tenants that are growing rapidly may seek rights to expand within the building in case they run out of space...
As retail and restaurant businesses contract and struggle to survive, many shopping center tenants are looking for ways to get out of their leases. One common exit strategy is for tenants to assign their lease interest or sublease some or all of the leased space to a third party. Tenants are...
Here’s a four-phase strategy for drafting a lease amendment letting a tenant contract its space.
In a post-pandemic world where a greater volume of work and business will be carried out remotely, many tenants will need the flexibility to not only expand but also...
