I am negotiating a real estate Lease on commercial property
I am negotiating a real estate Lease on commercial propertyplease can you break down in laymans terms what the following clauses mean & how can i negotaite them to be slightly more favorble for me ?----------------------------------------------------------------------ANTICIPATED DELIVERY DATE: On or before October 30, 2016RENT COMMENCEMENT: The earlier of i) One Hundred Twenty (120) days following the Delivery Date, or ii) Tenant's opening for business.FIXED MINIMUM RENT: Annual Base Rent shall be paid on a monthly basis in accordance with the following schedule: $32.00 psf NNN with 3% annual base rent escalations throughout the primary term and option period(s), if exercised by Tenant.ADDITIONAL RENT: Additional rent shall include those charges hereinafter designated as such in this Proposal and shall be estimated by Landlord for the first Lease Year or partial Lease Year that precedes the first Lease Year and provided to Tenant on or before the date Additional Rent begins. Such amounts shall thereafter be adjusted at the end of each Lease Year or partial Least Year per the terms of the Lease Agreement. Tenant shall pay its pro rata share of Additional Rent items including, but not limited to, Common Area Maintenance, Real Estate Taxes and Insurance. The estimated amounts to be paid by Tenant for the first year of the Term are $5.50/sf.*this amount does not include water, sewer, trash or electricity of which Tenant shall pay its proportionate share based on usage.PERCENTAGE RENT: Percentage Rent shall be an amount equal to five percent (5%) of Annual gross receipts in excess of the natural breakpoint. GROSS SALES On or before the tenth (10th) day of each calendar month during the REPORTING: term of this lease Tenant shall prepare and deliver to Landlord a statement of Gross Sales made during the preceding calendar month, certified by Tenant to be accurate.LANDLORD'S WORK: The Landlord will deliver the Premises in ‘raw shell' condition. Uponthe Delivery of Possession, Tenant will, at its sole cost and expense, proceed to upfit the space in accordance with the plans and specifications submitted to and approved by the Landlord.
I live in Connecticut and my landlord has gone through a
I live in Connecticut and my landlord has gone through a foreclosure in January. The building is a small house that is dual zoned and I am a small business. The bank has not taken over the utilities or contacted me. I have been paying the former landlord to keep heat and water on. I have two years left on my lease. Am I or the bank bound to honor the lease? Can the bank evict me?
is this a real estate law question or other attorney specialty? a
is this a real estate law question or other attorney specialty?a GC performed work. an estimate was provided. I do not think a contract was signed.GC during work took garage and components included an expensive garage opener motor.GC claims the items were demo'ed however they were valuable and new. I requested to take cost off full amount or return items or we agree to separate and he keep the items.GC claims they are filing a lien on the house.Questions: what is the max small claims court amount in florida?can a lien be put on a home without a trial or court date?if no contract signed and work not complete can a GC win in court?Should I be filing a police report on the stolen items?Any other items I should be doing?
My husband and I leased a commercial building for the purpose
My husband and I leased a commercial building for the purpose of building a live performance theatre. The building had been used previously for retail. We planned on changing the use and have been working with an architect to design the space. During the process, it became obvious that the materials and construction methods of the structure of the building are outdated. It turns out that we cannot do any of our tenant improvements or build our theatre because the structure of the building will need to be brought up to code first. We hired a Structural Engineer to inspect the building, who stated in his report that "The building as it exists today is not safe for occupancy or continued use and presents a seismic hazard to the public."According to our lease, the owner of the building is responsible for the "surface and structural aspects of the roof, bearing walls and foundation" of the building. However, the owner is refusing to acknowledge that this work needs to be done and will not move forward with trying to get the building repaired.What is our legal recourse? The building is uninhabitable. Can we get our first month's rent back and our security deposit? And what about all the money we spent on our architectural plans that we can't even use? Is there any way to force her to make the repairs?Thank you!
I recently signed a commercial retail space. When I signed
I recently signed a commercial retail space. When I signed the agreement, I thought landlord will give me partially complete unit. Till now, I realize they only give me an unit without wall, no utility, HVAC, concrete slab, sprinkler system, no bathroom, no ceiling and no light. They are expecting me to do all the above stubs to their property without give me any TI ALLOWANCE. Because I do not expecting those expenses incur to my business plan therefore I do not have enough funds to cover those stubs which cost close $70k-$100K. After review lease with a few GC, according to their experience, the believe this lease agreement is not properly prepare and they advice me to consult with attorney. Please review my message and give further legal status advice. I greatly appreciate for your help. My [email protected]
I have recently partnered up with a company that provides refinishing
I have recently partnered up with a company that provides refinishing services. Before I came on board my partner signed a lease for a commercial property. The lease is very poorly written and was not prepared or reviewed by an attorney. The property leased was constructed about 10 years ago but there was never any electricity ran to the building nor has the building ever been properly inspected for a certificate of occupancy. There are several issues regarding the landlords unwillingness to honor the lease agreement but there is one issue that has come to light that is very concerning. My partner has spent almost $10,000 in improvements to the building to bring it up to code, it will take another 6 to 8 thousand to complete the work needed to bring the building to code to obtain the certificate of occupancy. After coming on board I reviewed the lease and vetted the property. In my review it came to light that the landlord had not paid the property taxes in 4 years. In a conversation with the tax office I learned that the landlord has set up a payment plan to pay the property taxes almost a year ago, he made one payment and has failed to make any other payments since. I also learned in that conversation that the county tax office that they can seize the property at anytime they want and auction it off to recover the tax debt and that more than likely of the tax debt isn't settled in the next few months that is what will happen. The landlord acted in bad faith in that the lease specially states that he will keep the property from liens and at the time he signed the lease the property was already under a lien from the county. We of course cannot spend the funds required to finish the work required to obtain the certificate of occupancy or take possession of the property with the possibility of the property being sized by the county. We had to work and leased another property that already has a certificate of occupancy. My question is this, with the landlord acting in bad faith knowing that the the property under a tax lien and that the property can be sized by the county and because of not disclosing this information to my partner and my partner spent $8,000 to do what is required to obtain a certificate of occupancy in fact an act of criminal fraud?
substantial "tenant" improvements when there is not a tenancy
substantial "tenant" improvements when there is not a tenancy but an agreement to purchase made with owner, and is occupied by the occupier who made these improvements to make premises livable, can improvements be torn down or does owner owe occupier for these improvements?
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