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Gould + Ratner LLP

What is a Rent-Ready Credit in Multifamily Real Estate?

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A rent-ready credit is a legal provision commonly included in a multifamily real estate purchase agreement that allows a buyer to recover turnover costs at closing. The credit is used to cover the costs needed to make vacant...more

Ballard Spahr LLP

Landlord’s Acceptance of Rent After Notice to Terminate Expires Dooms California Unlawful Detainer Claim

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After serving a 30-day notice to terminate a commercial lease and filing an unlawful detainer case, a landlord continued to bill a tenant for rent and common area maintenance (CAM) fees, and unconditionally accepted rent...more

Miller Starr Regalia

Commercial Property Owners And Sb 1103: New Consumer-Type Protections For “Qualified Commercial Tenants” In Non-Residential...

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On September 30, 2024, Governor Newsom signed into law Senate Bill 1103, an unprecedented legislative measure affecting non-residential landlords’ transactions with a broadly defined class of “qualified commercial tenants.”...more

Stoel Rives LLP

Negotiating Insurance Provisions for Commercial Landlords

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When commercial landlords negotiate leases with prospective tenants, they understandably focus on key commercial terms, such as rental rate and renewal options. While that focus is justified, landlords should never overlook...more

Katten Muchin Rosenman LLP

Navigating Break Clauses in Commercial Leases: How to Avoid Breaking Bad

Exercising break clauses in commercial leases can often prove to be a legal minefield for any tenant (and, in some cases, a landlord) seeking to do so. Strict adherence to any conditions and notice requirements for the...more

Bennett Jones LLP

Don’t Walk Away! Landlord Remedies on Lease Repudiation

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Markets change. Situations change. Plans change. And in the face of change, tenants are often faced with future lease obligations that no longer suit their business plans. They need (or at least want) to change the deal with...more

Farrell Fritz, P.C.

Is It an Illusion of Indemnification? Insurance Requirements for Tenants Paired with Indemnification Clauses in Leases May Not Be...

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Recently, in On Point Window Treatment, Inc. v. 208 Clinton Place, LLC, 2024 N.Y. Slip Op. 50241 (N.Y. Sup. Ct. 2024), the Kings County Supreme Court held that even when paired with an insurance procurement requirement, a...more

Sands Anderson PC

Navigating the Labyrinth: Unraveling the Differences Between Commercial and Residential Leases in Virginia

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As the new year approaches, entrepreneurs across Virginia are gearing up to take their ventures to the next level and turn plans into reality. For many, the first crucial step in this journey involves securing a commercial...more

BCLP

Longer Leases, Lower Ground Rents and Leasehold Liberation: Residential Reforms in the King’s Speech Explained

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The King’s speech announced a new Leasehold and Freehold Reform Bill ‘to reform the housing market by making it cheaper and easier for leaseholders to purchase their freehold and tackling the exploitation of millions of...more

Tonkon Torp LLP

Pinning Down the Lease Commencement Date

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If you’re venturing into the world of commercial real estate, whether as a tenant or a landlord, there’s a plethora of terms you’ll come across. Among these is the seemingly simple idea of the “Lease Commencement Date.” While...more

Brownstein Hyatt Farber Schreck

Colorado Bill Adds New Rental Agreement Prohibitions Effective Aug. 7

A bill adding to the list of prohibited provisions in rental agreements recently became law in Colorado. Although the state already had rules in place for what can appear in rental agreements, HB 23-1095 adds prohibitions...more

Stoel Rives LLP

Idaho’s Supreme Court Raises New Questions About the Essential Elements of a Lease

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Idaho’s Supreme Court recently issued a new opinion discussing the requirements to form a valid lease agreement. Unfortunately, the case raises as many questions as it answers....more

Cadwalader, Wickersham & Taft LLP

ABCD ... ROFR and SLL June 2022 - The Strengths of Rights of First Refusal

On March 30, 2022, the New York State Supreme Court, New York County (the “Court”) decided in Times Square JV LLC v. Walber Broadway LLC that a ground lease-tenant that is in default under the ground lease for failure to pay...more

BCLP

Landlord Tenant Dispute: Tenant’s liability to make good damage and defects after the expiry of the tenancy

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What is the allocation of responsibility for damage and defects after the expiry of a tenancy - The dispute in So Hon Ming Francis v Cheung Lau Shau Chun and Another ([2021] HKDC 1494, DCCJ 367/2019, 29 November 2021)...more

Hogan Lovells

The UK High Court considers the impact of COVID-19 on rent assessment in lease renewal proceedings

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In S. Franses Limited v The Cavendish Hotel (London) Limited [2021] the High Court had to determine a number of issues including, importantly, what rent would be payable by the tenant under the terms of its renewal leases of...more

Tonkon Torp LLP

How The COVID-19 Pandemic Has Altered Commercial Leasing Forever

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Lately, each day has brought more signs that pandemic restrictions are being loosened and the opportunity for a “return to normal” is growing. But for commercial real estate landlords and tenants, will there be a new normal?...more

Farrell Fritz, P.C.

The Secret’s Out: COVID-19 May Not Excuse Commercial Rent Obligations

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The lingerie brand Victoria’s Secret (“VS”) has struggled in recent years. VS’ overtly sexy aesthetic has failed to keep up with shifting consumer tastes towards comfort and gender and size inclusivity....more

Hogan Lovells

COVID-19: Crisis-related exclusion of termination right on landlords takes effect

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On April 1, 2020, an exemption from the landlord's termination right comes into force, which protects tenants against the loss of their apartment or commercial space in the event of late payment of the rent. However, this...more

Shutts & Bowen LLP

10 Questions Your Litigator May Ask about Your Post-Covid Commercial Lease

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Much has been written about commercial real estate in a post-Covid world. As real estate users consider how Covid will change their space needs, they should also consider what provisions will serve them in future...more

Goulston & Storrs PC

Law of the Land - Real Estate Litigation Newsletter - July 2020, Volume I, Issue I

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Trends in Real Estate Litigation - Commercial Landlords and Tenants Take Their COVID-Related Lease Disputes to Court - The slow-burning standoffs between commercial landlords and tenants in the COVID-19 pandemic are...more

Hogan Lovells

COVID-19 UK – Additional breathing space…but tenants who can pay should

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Most commercial leases require the tenant to pay its rent quarterly, and invariably include a provision allowing the landlord to forfeit if that rent has been unpaid for a period of time, e.g. 7, 14 or 21 days.  Outside of...more

Herbert Smith Freehills Kramer

Commercial Leases in New York: Enforcement Is on Pause, but Negotiations Should Be Ongoing

New York courts are resuming some operations, but eviction proceedings, including for violations of commercial leases, are still suspended. However, those contracts — and the obligations they created — still exist. ...more

Fox Rothschild LLP

COVID-19: Reasonable Accommodation Or Compassionate Medical Termination

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I have heard from two clients with variations on what I suspect may be the next type of request professional apartment management receives from residents during this time of the Coronavirus: a request to terminate a lease...more

Morgan Lewis

Leasing Considerations for Tenants and Landlords During COVID-19 Pandemic

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Tenants and landlords should consider whether certain provisions such as force majeure, frustration of purpose, and/or impracticability of performance can protect them under current leases—and whether to include such...more

Womble Bond Dickinson

Negotiating Leases and LOIs During the Novel Coronavirus Pandemic

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Delivery and Rent Commencement - As companies struggle to adjust to the quickly changing business landscape during the novel coronavirus pandemic, those office tenants that continue letter of intent (LOI) and lease...more

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