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The owner of a local business wants to lease commercial property to use as a retail storefront or for office purposes. When she finds her ideal space, the landlord suggests an initial 10-year term. The potential tenant envisions staying in the space longer than that, so she wants to negotiate for the option to renew the lease at its termination. However, the landlord is reluctant to agree on a fixed amount of rent for the renewal term, as market conditions will undoubtedly change over the course of a 10-year period. So, how will the parties agree on the future rental amount?
By Joseph I. Farca
Why Commercial Fraud Claims Sometimes Fail, and the Importance of Due Diligence
If a court decision called you “sophisticated,” it was probably not intended as a compliment, but instead signaled the death knell of your fraud claim.
By Missy McCoy
There is no uniform approach relating to management fee provisions in leases, and courts will recognize inequities in the charging and payment of management fees when lease terms are ambiguous or a landlord or tenant fails to comply with the terms of its lease.
By Kelsi Maree Borland
There is a frenzy of excitement about the prospect of opportunity zone investments, but a number of investors are also considering becoming sponsors of the new fund model. While organizing a fund may seem simple, especially for experienced real estate sponsors, the opportunity zone model is actually complex.
Contractual Allocation of Damage Risk Thwarts Insurer’s Subrogation Claim
Lacking Specifics, Lease Term Is Unenforceable