Real Estate Law

Have Real Estate Law Questions? Ask a Real Estate Lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Real Estate Law

A previous President of my company entered into a

Customer Question
Hello, A previous President of my...
Hello,
A previous President of my company entered into a lease agreement for the offices/building where we work. The rent has not been paid in the last four (4) months and the owner is now demanding the rent in arrears plus 1.5% per day , as per the terms of the lease agreement.
The company was sold and the new owners are outraged at the high late fee.
Is there a Florida Statue limiting the 1/5% per day fee?
Submitted: 1 year ago.Category: Real Estate Law
Show More
Show Less
Ask Your Own Real Estate Law Question
Answered in 4 minutes by:
4/14/2016
Real Estate Lawyer: Barrister, Lawyer replied 1 year ago
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 39,562
Experience: 17 years real estate, Realtor. Landlord 26 years
Verified
Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question..Unfortunately, Florida state law does not cover late rent fees. If your lease or rental agreement sets out a specific agreement about late fees, your landlord can enforce it as that is something that would have to be negotiated at the beginning of the lease if the tenant found it unduly burdensome..As an aside, in addition to being an attorney, I have also been a landlord for over 26 years....I am very sorry that I don’t have better news, but please understand that I do have an ethical and professional obligation to provide customers with legally correct answers based on my knowledge and experience, even when I know the answer doesn’t make the customer happy.....thanksBarrister
Ask Your Own Real Estate Law Question
Customer reply replied 1 year ago
Thank you Barrister,
The company was recently sold, however the previous owner did not pay rent since January 1. The rent sums to a total of $50,000 + , however with the 1.5 % late fees, the rent now sums $over 82,000...a substantial penalty. I don't feel that this is a reasonable amount and wanted to if there are any legal avenues that we could be protected by, due to the landlord being unforgiving towards the amount due.Best,HP
Real Estate Lawyer: Barrister, Lawyer replied 1 year ago
Unfortunately, in a commercial lease situation, the fact that a late fee is high or downright punitive wouldn't give a legal recourse to avoid the contract. That is why it is critical for contracts to be reviewed and carefully read prior to signing because once it is signed it is legally binding on the parties..But if the seller of the company didn't disclose that they were late on the rent, the buyer could sue them for misrepresentation and potentially fraud because the new owner is now on the hook for the late fees under the contract and that likely would have made a difference on any purchase price had it been known at the time...thanksBarrister
Ask Your Own Real Estate Law Question
Customer reply replied 1 year ago
Thank
Real Estate Lawyer: Barrister, Lawyer replied 1 year ago
You are very welcome. Glad to help any time...If you feel your original question and any related follow ups have been answered, I would very much appreciate a positive rating on the answer I have provided so I receive credit for my work. If you have a new question the JustAnswer folks require that you start a new question page, but you can request me by putting "For Barrister" in the caption and they will get it to me...thanksBarrister
Ask Your Own Real Estate Law Question
Ask Barrister Your Own Question
Barrister
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 39,562
39,562 Satisfied Customers
Experience: 17 years real estate, Realtor. Landlord 26 years

Barrister is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Tina

Tina

Lawyer

5,436 satisfied customers

17 years of legal experience including real estate law.

Barrister

Barrister

Lawyer

39,562 satisfied customers

17 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

7,785 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

7,559 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,207 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

Attorney

5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,925 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

< Previous | Next >

Related Real Estate Law Questions
When a commercial lease for an office expires and is now
When a commercial lease for an office expires and is now month to month what are the rules regarding use of the prior lease that may be 3-5 years old? … read more
Barrister
Barrister
Lawyer
39,562 satisfied customers
The commercial lease my restaurant tenant has signed,
The commercial lease my restaurant tenant has signed, contains the sentence stating that I provide heat . (at that time there was a boiler in the basement and every uni twas connected. … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
If my landlord doesn't have a signed rental agreement can
If my landlord doesn't have a signed rental agreement can she evict me. She gave me a notice with cause they didn't have any time to cure and none of the things that were are on the notice were true … read more
LegalKnowledge
LegalKnowledge
Juris Doctor
28,183 satisfied customers
Is there a way to get out of a commercial lease with the
Is there a way to get out of a commercial lease with the option to buy as seller ? It's only been 20 days since signing in… read more
Barrister
Barrister
Lawyer
39,562 satisfied customers
I have a commercial lease that ended 9 months ago, we never
I have a commercial lease that ended 9 months ago, we never signed another agreement can I give the tenant 30 days at any time … read more
Barrister
Barrister
Lawyer
39,562 satisfied customers
I'm a tenant in a commercial lease. I received a 3 day
I'm a tenant in a commercial lease. I received a 3 day notice to pay or quit. My issue is not lack of funds but the landlord being a bully with charging erroneous fees and costs. Out lease does have a… read more
Barrister
Barrister
Lawyer
39,562 satisfied customers
I'm having an issue regarding commercial lease, I am a
Dear counselors,I'm having an issue regarding commercial lease, I am a tenant and dealing with a difficult property/partial ownership. Back in Sept 2014, I signed a master lease for an 1800 sqf commer… read more
socrateaser
socrateaser
1,031 satisfied customers
I am the sole renter on a rental agreement. My landlord has
I am the sole renter on a rental agreement. My landlord has given me permission (verbally) to have a room mate. my current room mate has become intolorable to deal with..claiming mutual space in home … read more
LegalKnowledge
LegalKnowledge
Juris Doctor
28,183 satisfied customers
I am on a rental Agreement with my daughter. I have not been
I am on a rental Agreement with my daughter. I have not been living at the apartment, However, I pay the rent. She is bi-polar, and now on drugs. She is presently in a psychiatric unit. She was given … read more
LegalKnowledge
LegalKnowledge
Juris Doctor
28,183 satisfied customers
If I go to an online site to print a rental agreement to
If I go to an online site to print a rental agreement to rent a room in my home, do I need to register it with the city or county for it to be valid and enforceable?… read more
Damien Bosco
Damien Bosco
3,391 satisfied customers
I have a question about a commercial lease and eviction
I have a question about a commercial lease and eviction notice . … read more
Barrister
Barrister
Lawyer
39,562 satisfied customers
I have a commercial lease for a Restaurant which will expire
I have a commercial lease for a Restaurant which will expire on 12/01/2017. I already notified the Landlord verbally that we will not be renewing the 2 year Lease. The water heater broke and got a quo… read more
Gerald, Esq
Gerald, Esq
Juris Doctor
3,547 satisfied customers
Texas commercial lease with option to extend, not renew, and
texas commercial lease with option to extend, not renew, and option has been exercised by Tenant in timely manner. However, LL has chosen to use the space to increase its own business operations. Sinc… read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
I have a commercial lease (restaurant) - my lease ending
I have a commercial lease (restaurant) - my lease ending date is March 2020 it is a 5 year lease - the owner sold the building, the new owners want me to sign a one year lease because they are tearing… read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
I negotiated a commercial lease two years ago. 5yr + 5yr
I negotiated a commercial lease two years ago. 5yr + 5yr option. It was to be a simple uniform commercial lease. Agreed and had simple lease drafted, not signed till his atty review. meanwhile I was t… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
7,403 satisfied customers
I HAVE A QUESTION REGARDING COMMERCIAL LEASE. Ca. I am
Yes I am already in the lease and moved in. The Unit I am leasing I believe has an unpermitted wall built inside. Also has bad electrical can I break my lease for those reasons? … read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
7,785 satisfied customers
How long does it take for a landlord of a commercial lease
How long does it take for a landlord of a commercial lease to evict a tenant? More specifically: How long would the quickest and most efficient way with a hired lawyer to evict a commercial tenant tha… read more
Barrister
Barrister
Lawyer
39,562 satisfied customers
I have a rental agreement with a property management company
I have a rental agreement with a property management company who represents the owner. The owner has contacted me saying they severed ties with property manager and i must enter into a new agreement w… read more
Phillips Esq.
Phillips Esq.
Attorney
Juris Doctor
18,393 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x