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Q:Most tenants at my property require certain amenities and they won’t sign leases for space there if they don’t get them. But I’ve heard of circumstances under which office building and retail property owners have had to get rid of amenities. How can I carve out a right to eliminate amenities in the future if it becomes necessary?
Q: As the owner of a strip mall, I’m always looking for ways to bring in more income. I’m negotiating leases with some prospective tenants to fill vacant space. They’ll be paying percentage rent and base rent. Are there any often-overlooked ways to boost my rent revenues that I might not have thought about but that I should try to put in the lease?
Q: I’ve found a tenant that’s perfect for my retail space. Because of the synergy I’ve created among tenants at the shopping center, it’s crucial that this tenant mustn’t assign its lease to any type of business that deviates from what it is selling. I’m aware of basic assignment provisions, like requiring the tenant to get my consent to an assignment, that can protect my interests...
Q:I’ve negotiated percentage rent provisions in my leases with several of my retail tenants at the shopping center I own. I’m relying on these tenants to give me correct gross sales figures so that I can get the percentage rent that I’m owed, and can gauge how well the tenants’ businesses are doing. I’ve heard of scenarios where a dishonest tenant may try to undercut the owner’s p...
Q: A provision in my lease with a retail tenant specifies that the tenant must fix any damage to the elevator that it uses as part of its business. I recently discovered that the equipment has been damaged, so I sent a notice to cure to the tenant. However, the tenant claims that the damage occurred before it moved into the space. The tenant is asking a trial court for a judgment in its favor without a trial. What wo...
Q: My tenant’s retail business is in trouble, but instead of closing, the tenant is trying to find a buyer. I had previously obtained an eviction order because the tenant had defaulted on its rent obligations. Now, the tenant has offered to pay the back rent, plus an additional amount in exchange for me allowing it to stay in the space until it has a buyer. Is there any danger in such a scenario?
Q: The office building I own is located in an up-and-coming neighborhood that consists of retail, office building, and residential apartment properties. It’s a so-called “upscale” shopping and living area, and I’d like to keep the appearance of my building attractive. However, a prospective tenant needs to install rooftop equipment to make its business function in the space it would lease from...
Q: I’m a first-time shopping center owner in a northern state where snow and ice is prevalent in the winter. I’m afraid that if shoppers slip and fall in the common areas outside tenants’ stores, they’ll sue me. If my leases make me responsible for plowing and shoveling common areas of the center, does that mean tenants won’t have any liability for accidents that occur right outside thei...
Q: One of the spaces at my shopping center is set up for a dry cleaning business, which has a higher risk of causing environmental damage. The tenant who moves into that space would be required to follow specific guidelines and be subject to certain environmental laws that other tenants aren’t. Should I refer to these laws by name in the lease?
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