By: Shawn Rader The COVID pandemic will have a lasting impact on lease negotiations from this point. Ty West, senior editor of national content at American City Business Journals, published an interesting article on the topic on May 3, in which he makes the …
Fitness Operators Dealt Blow Regarding Pandemic Business-Interruption Claims
By: Timothy Miedona Another blow to fitness operators as courts rule against business interruption claims due to COVID-19. https://www.law360.com/articles/1372993/insurer-says-la-fitness-virus-losses-aren-t-fit-for-coverage
Hillsborough County Commercial Lease Sales Tax Rate Reduced by Recent Florida Supreme Court Decision
By: Matthew R. O’Kane & Samantha Duran A recent Florida Supreme Court decision1 found that the Hillsborough County 1% transportation sales surtax is unconstitutional. As a result, the decision reduced the sales tax rate on commercial lease payments in Hillsborough County to 7%. In a 4-1 …
COVID-19-Related Lease Modifications Raise New Issues of Liability for Unpaid Rent
By: Daniel McIntosh & Samantha Duran As pandemic-related shutdowns battered the retail and restaurant industry, many tenants avoided defaulting on their leases by negotiating a lease workout. These agreements often provided tenants some much-needed rent relief in exchange for …
New Decision Shows the Importance of Strongly Drafted Force Majeure Provisions
By: Quino Martinez & Samantha Duran Over the course of the last year, commercial landlords have become all too familiar with the legal principles wielded by tenants to excuse the payment of rent. Impossibility, impracticability, and …
What Landlords Need to Know about Acceleration of Rental Provisions
By: Shawn Rader Acceleration of rental provisions in commercial leases allow the landlord, upon the tenant’s default, to accelerate the balance of the rent due for the balance of the lease term making it due and payable …
What Commercial Landlords Need to Know: 2021 COVID Relief Bankruptcy Changes
By: Michael Provenzale While the headlines focused on the additional stimulus checks being sent out again to many Americans, the same law made some temporary tweaks to the bankruptcy code, three in particular that will affect …
Issues for Buyers to Address When Allowing Sellers to Remain on Property after Closing
By: Gary M. Kaleita The Central Florida housing market is still going strong at the moment, with the result that developers are continuing to create new residential subdivisions in traditionally rural areas. Much of this rural …
Looking Ahead to the Biden Administration – What the Commercial Real Estate Community Needs to Know
By: Quino Martinez & Samantha Duran As the 46th president of the United States, Joe Biden has set some ambitious policy goals that will have far-reaching effects on the commercial real estate market. However, until recently, most experts …
Rental Acceleration Provisions in Commercial Leases
By: Shawn Rader If a tenant defaults upon payment of rent, the landlord does have a right to accelerate the balance of the rental due for the remaining lease term. This practice is not, however, …