Feature

Negotiate Six Specifications in 'Assignment of Sublet Rents' Clause

April 26, 2017    
In theory, a sublet seems easy: When you let a tenant sublet its space, the subtenant pays the tenant its rent due under the sublease, and the tenant pays you its rent or percentage rent due under the lease. While that’s the way sublet scenarios are designed and expected to work, you can...
Plugging Loopholes

Use Indemnity Agreement to Ensure Tenant's Viability

April 26, 2017    
Performing due diligence on a prospective tenant is one way to try to determine whether the tenant is financially viable. But what if you end up leasing to a tenant that proves to be a risk, no matter how careful you thought you were when researching it? One example of a risky tenant is one that...
Owner Wins

Tenant's Inconvenience Didn't Override Owner's Decision to Terminate

April 26, 2017    
Facts: A tenant leased space in a shopping center for its restaurant. The tenant had an option to renew its lease, but had to exercise that option a year before the lease term was to expire. The tenant claimed that it sent a letter to the owner of its space, letting it know that it would renew its...
Feature

Strengthen Landlord's Self-Help Right to Protect Space, Avoid Wasting Time in Court

April 12, 2017    
A tenant’s lease violation is never good news for commercial real estate owners, but each type of violation has different consequences—ranging from annoying to disastrous. If your lease doesn’t give you a “self-help” right, you might find yourself facing the difficult...
Plugging Loopholes

Protect Warranties from Being Voided by Tenant's Self-Help Effort

April 12, 2017    
A strong tenant forces you to give it a self-help right—that’s the right to step into your shoes to do important repair, maintenance, or replacement work if you fail to do that work. But suppose you have warranties on your roof and other items that restrict who can perform repair,...
Q & A

Overcoming Tenant’s Request for Judgment without a Trial

April 12, 2017    
Q: A provision in my lease with a retail tenant specifies that the tenant must fix any damage to the elevator that it uses as part of its business. I recently discovered that the equipment has been damaged, so I sent a notice to cure to the tenant. However, the tenant claims that the damage...
Feature

Negotiate Circumstances for Tenant to Buy Its Leased Space

March 15, 2017    
It’s an undertaking for any tenant to scout out prospective commercial space, negotiate a lease, and then deal with the logistics and expense of moving into that space. So, after going through all of the effort to get established at a property, it’s not unusual for a big tenant that...
Q & A

Accepting Rent After Taking Steps Toward Eviction

March 15, 2017    
Q: My tenant’s retail business is in trouble, but instead of closing, the tenant is trying to find a buyer. I had previously obtained an eviction order because the tenant had defaulted on its rent obligations. Now, the tenant has offered to pay the back rent, plus an additional amount in...
Owner Loses

Right of First Refusal Extinguished Upon Exercise of Option

March 15, 2017    
Facts: Two tenants leased space at a property. The first tenant had a right of first refusal to buy the entire property, including the second tenant’s space, if a third party made an offer. The second tenant had the option to buy its own space at a certain year in its lease term. But that was...
Feature

Explore Tax Advantages of Triple Net Leasing for Your Property

February 22, 2017    
If you own commercial property and are contemplating branching out and acquiring more properties, you might not know where to start. A good jumping off point is understanding what type of leasing opportunities are available—and their interplay with the commercial real estate market now....
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