Feature
August 11, 2015
Attorney’s fees are a point of contention in many owner-tenant disputes. Typically, one party argues that the other party should pay for its own legal fees and the legal fees the first party has incurred as a result of the lawsuit or other legal proceeding.
Q & A
August 11, 2015
Q: After my tenant defaulted by failing to take care of several maintenance issues it was responsible for under the lease, I sent it a 30-day notice to cure. The notice also specified that if the tenant didn’t fix the maintenance problems, its lease would be terminated. The tenant claims that...
Dos & Don'ts
August 11, 2015
Sometimes a clerical mistake, such as an incorrect date or a misspelled name, is made on a lease document. But if the mistake isn’t caught and corrected, it can lead to a dispute later between you and your tenant—especially if the mistake works in the tenant’s favor and it’s...
Dos & Don'ts
August 11, 2015
You may have a “wish list” for items you would like to include in your lease with a prospective tenant, but be careful not to overdo it. Big box tenants or those with a lot of bargaining power are more likely to balk at requests for things that are too owner friendly, but continue...
Dos & Don'ts
August 11, 2015
Don’t rely on an “implied” continuous operations covenant—that is, one that isn’t expressly stated in the lease—if you want your retail tenant to continuously operate from its space. Some courts might find that one exists anyway in certain situations, such as...
Dos & Don'ts
August 11, 2015
If you’re negotiating a lease with a tenant that primarily sells consumer electronics and appliances, don’t agree to exclude sales of extended warranties, subscriptions, repairs, delivery, and other services from the definition of “gross sales.” Those sales can represent a...
Dos & Don'ts
August 11, 2015
Recent natural disasters and extreme weather have forced some tenants out of business or have forced them to relocate after their space has been damaged. And many shopping centers have felt the effects of a tenant shakeup. Aside from dealing with the financial aftermath, you should also take a good...
Owner Wins
August 11, 2015
Facts: A fast-food restaurant franchisee was required to update its space every seven to 10 years in accordance with its franchise agreement. Its lease prohibited the tenant from making any alterations to the interior or exterior of the premises without the owner’s written consent. The tenant...
Feature
July 14, 2015
If an environmentally “risky” tenant, such as a dry cleaning business, gas station, or auto service center—which all use chemicals that could contaminate your property—will be lucrative enough to make taking the risk of potential damage worth it, it’s crucial that you...
Negotiating Tips
July 14, 2015
Unfortunately, at some point you may have to evict a tenant or pick up the pieces if a tenant abandons its space. It’s hard enough to have to regroup and find a new tenant quickly. But being forced to take on an undesirable tenant—one with a bad credit rating or that doesn’t help...
