Feature

Break Through Five Limitations on Your Exclusive Use Right

August 22, 2016    
Many tenants specialize in selling a particular product or in offering a specific service, and because that’s the sole way for them to turn a profit, it can be crucial to eliminate the chances for competing businesses to sell the same items, thereby diluting profits. While you don’t...
Plugging Loopholes

Modify Overlooked Assignment Provisions

August 22, 2016    
There are many issues to take into consideration when negotiating and drafting the assignment and subletting provisions in your lease. After all, assignments and sublets can be a key part of an exit strategy that you might need later. Being able to assign your lease or sublet your space is crucial...
Q & A

Getting Proper Protections in Commercial Condo Lease

August 22, 2016    
Q: I’m considering operating my restaurant in a commercial condo space. Because the space is subject to the governing documents of an association, there are several hoops to jump through, such as getting approval for improvements that typical retail tenants don’t need like gas lines....
Dos & Don'ts

Don't Take Weather Precautions without Consulting Attorney

August 22, 2016    
Some tenants put out “wet floor” signs during rainy or snowy weather to warn customers about slippery conditions to watch out for. It’s important to be cognizant of potential areas for liability, but you should also consult your attorney about what precautions you should take as...
Dos & Don'ts

Give Necessary Notice for Non-Lease Tenancy

August 22, 2016    
While many commercial leases are for several-year terms, it behooves some owners and tenants to opt for a month-to-month tenancy. If your tenancy runs month-to-month without a lease, don’t assume that you can just pick up and move because this is a less restrictive deal than a lease. Make...
Tenant Wins

Landlord Retained Responsibility for Ice Removal

August 22, 2016    
Facts: A grocery store customer who slipped and fell on ice in the strip mall’s parking lot sued the grocery store tenant, the center’s owner, and the snow-removal contractor and subcontractor for her injuries. She asserted that they all had a duty of care to keep the parking lot free...
Feature

Negotiate Fair Rent Escalation Provisions for Life of Lease

July 29, 2016    
Ideally, commercial leases wouldn’t be subject to variables that could negatively affect both landlords’ and tenants’ profitability. In reality, inflation—which is impossible to predict with complete certainty—can affect the bottom line for both parties if it hasn...
Plugging Loopholes

Carve Out Right to Guaranty Return

July 29, 2016    
In some cases, the owner of space you rent will require a lease guaranty. If you can find one or more guarantors who agree to fulfill your lease obligations and cure your lease defaults if you don’t, you can rent the space. A guaranty can be a way for an owner to test out whether you’ll...
Q & A

Can Court 'Revive' Your Terminated Lease?

July 29, 2016    
Q: The owner of the space I rent sent a notice of default and asked me to cure the default under the terms we had agreed on in the lease. But we have different opinions as to whether the issue that’s at the center of the disagreement is actually a default. There have been protracted...
Dos & Don'ts

Use New Leverage in Renegotiations

July 29, 2016    
If you’ve gained bargaining power by becoming a more financially sound or valuable tenant at your shopping center since you signed your first lease there, use it to your advantage during renegotiations for your space. Before sitting down with the owner, examine your lease to determine which...