How might inflation affect your leases this year?
ICSC published a brief summary of a handful of timely legal issues discussed during its 50th U.S. Law Conference. Among the topics were a few percentage rent concerns. They are all relevant in the current environment and worthy of addressing the “whys” of the topics and expanding on them a bit. Before hitting those issues,… Continue reading Deductions and exclusions from reported gross sales
Last week, I read an article about a nineteen year old who used one email address and an Excel spreadsheet to get free food every day of the year. He gave a different birthday to every restaurant that he could find that would give free food for your birthday, and then used his spreadsheet to… Continue reading Lease language food hack?
We have been seeing a clause for years that is both brilliant and fair to both landlords and tenants – a CAM cap carryforward. The concept is fairly simple. You calculate and apply a cap as required by the lease. However, if there is any excess CAM that the landlord could not bill and collect… Continue reading Property Management Systems Can’t Handle This Clause – And if you have them, they will be critical for 2020
You may be thinking this is clickbait. It’s not. This past week, we had a truly “throwaway” lease clause that had cost the owner more than $10m in value on the property. Not one clause in every lease at the property, but one clause in one lease. The clause – “The tenant may offset percentage… Continue reading The throwaway lease clause that cost more than $10m in value
Hopefully, in the next few weeks, we will be slowly but steadily getting back to a new normal. We will all be faced with the question of minimum rents during this period from both the landlord and tenant perspective. But there will be other issues we will all have to consider as we come out… Continue reading Looking to the future – dealing with lease related issues
We have seen the articles today, “Cheesecake Factory and Primark refuse to pay April rent.” Some of this is the media looking for clicks. The landlord-tenant relationship has always, out of necessity, been a symbiotic one. The economic environment at any given time may shift the “advantage” back and forth, but it really does go… Continue reading “… and the breakpoint shall be likewise abated…” – a thought about rent relief
It has been rough for all of us to watch and experience what has been going on in retail over the past few weeks. I was encouraged last week when an International Council of Shopping Center’s friend from Shanghai relayed that retail was picking back up in his city. But, locally – nationally – here,… Continue reading Two encouraging lessons for commercial real estate from coronavirus
Not my typical lease administration post. Just sharing an email that I received this morning. Personally, when I have to do something I don’t want to. I tell myself, “There is nothing I can’t do for X amount of time.” X amount of time has always been a wide variable – in some cases, it… Continue reading “We see the retail business is getting busy again”