Who Benefits from Exclusive Use Provisions in Commercial Leases?
When you buy commercial property, you face many challenges. Among other things, it’s critical to ensure rental of all available space. In some circumstances, this means including exclusive use provisions in the lease agreement. Is that really such a good idea? Consider situations where a commercial landlord might agree to an exclusive use clause in […]
Option to Purchase in Commercial Lease: What You Need to Know
When you’re a commercial landlord, you should know certain key terms are critical to your lease agreement. However, are you considering the sale of the property? If so, you may want to insert a clause that gives your commercial tenant an option to purchase. For a moment, consider this. You own a commercial building and […]
Commercial Leases: What in the World is an Indemnity Clause?
Whether you’re a commercial landlord or tenant, you may be confused. As you read through the lease agreement, you find language that’s somewhat foreign to you. Understandably, you can’t help but wonder. What in the world is an indemnity clause? For the most part, the indemnity clause almost always pairs with a promise to defend. […]
When It Looks Like You Need to Evict a Commercial Tenant
If you’re a commercial landlord, you already know how hard it is to lease space. Meanwhile, there may come a time that things just don’t work out right. Truth be told, it could be as simple as needing to evict a commercial tenant for failure to pay the rent. Of course, you’ll want to make […]