Real Estate Law
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The building is going to be used for a dance school. To be used for that purpose some of the interior walls would have to be removed, some ceiling work would also have to be done in several places, new walls built, etc.
The broker represents the building owner. They had the renovation plan before they started to work on the lease agreement, so the were aware that the building would have to be renovated and the extent of renovation.
The broker advised me that it is easiest to get the Certificate of Occupancy from the city first, start the lease, and then apply for the building permit to start renovation. The first thing the city required was the asbestos study. When I mentioned that to the owner he assured me verbally that there is no asbestos. However, he study has found it in all of the walls and parts of ceiling that have to be removed or worked on... The building can still be renovated, however the cost of renovation is about to double the cost originally budgeted... (Up to $25,000 extra for abatement of asbestos containing materials). I have a feeling the owner was aware of that but did not tell me, but I have no proof of that. So the question is, can the owner be forced to pay for it or at least for part of it, or can I get out of this lease, if the owner decides not to pay for it?
The reason I asked about broker's liability is to understand if he can be pressed to let me out of this lease because he did not disclose the asbestos information and implications... Thank you.
I tried to follow up, but probably used the wrong place and afraid my card has been charged second time - I need to cancel that one...
My follow up question was - if the landlord did some renovation in property without permit from the city and disturbed asbestos in the process - I assume this is illegal - can that be used as a way to pressure him to pay at least part of the cost of abatement?
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