If an existing tenant has an exclusive use right, don't agree to a broad use clause in a new tenant's lease (unless the existing tenant's exclusive specifically makes an exception for the new tenant's use), warns Denver attorney Neil B. Oberfeld. Otherwise, the new tenant could...
To entice a desirable tenant to sign your lease, you may be forced to give it a security deposit concession. The concession may be to forgo a deposit altogether or to have the tenant put up less money than you'd typically require in a stronger leasing market. Either way, a security deposit...
By virtue of a legal concept called “indemnity,” a commercial property owner sometimes can make its tenant financially responsible for damages the owner suffers as the result of any party's actions. Owners generally try to secure their right to this kind of reimbursement by...
Employees of an office building tenant in Maryland are currently suing the building's owner, claiming that they are suffering the effects of poor air quality caused by “sick building syndrome” [Montgomery Mutual Insurance Co. v. Josephine Chesson, May 2007].
Q A tenant has asked for permission to sublet its space to a third party. Our lease contains an assignment/subletting clause that allows me to deny the tenant's request and to recapture the space. In this case, I would prefer to recapture the space...
If you're like most shopping center owners, you're always looking for an innovative way to earn additional revenue at your center, boost traffic, increase the tenant mix, create excitement, and drum up positive publicity for your center. You can achieve all of those goals by letting a...
Almost all leases require commercial property owners to approve the contractors that will be making improvements on the property that owners lease to tenants. Most people who deal in commercial property consider the provision necessary to protect the owner; without it, a tenant could hire an...
If you are engaging a real estate attorney for a new deal, don't spend time and money disclosing the deal's details to the attorney before you are sure that no conflict of interest exists that could prevent him from fairly representing your interests, says real estate expert Kevin M....
