date: August 01 2019 title: Tenant Leasing Illustrated – August 2020 – Avoiding Sublease Screaming url: https://mintzandgold.com/newsletter/tenant-leasing-illustrated-august-2020-avoiding-sublease-screaming excerpt: As the world (including the commercial leasing world) comes to grips with COVID-19, we expect we will soon enter a period of expanded subleasing activity. This will require that agreements be put in place with experienced real estate brokers. In today's issue, we raise five issues to address as a sublandlord when negotiating a co-broker agreement with the subtenant's broker or "outside broker."
date: July 01 2019 title: Tenant Leasing Illustrated – July 2020 – Cats and Dogs and Future Covid Leases url: https://mintzandgold.com/newsletter/tenant-leasing-illustrated-july-2020-cats-and-dogs-and-future-covid-leases excerpt: At some point soon, we will all get back to "normal" (whatever that may ultimately mean) and leasing and subleasing will move forward. When that happens, tenants and landlords will need to figure out how COVID-19 or other pandemics should be addressed in future leases. In today's issue, we provide seven suggestions regarding how to handle a pandemic when structuring a new commercial lease.
Tenant Leasing Illustrated – June 2020 – Ejection Seats and Reopening Your Offices url: https://mintzandgold.com/newsletter/tenant-leasing-illustrated-june-2020-ejection-seats-and-reopening-your-offices excerpt: We continue to live in a COVID-19 world and, as many states look to reopen, office space is likely to look very different both on a short-term and long-term basis. In today's issue, we provide eight suggestions with respect to reopening your office in the midst of the COVID-19 coronavirus pandemic.
date: May 01 2019 title: Tenant Leasing Illustrated – May 2020 – COVID-19 Marches On url: https://mintzandgold.com/newsletter/tenant-leasing-illustrated-may-2020-covid-19-marches-on excerpt: As the COVID-19 coronavirus wreaks havoc with our day to day activities and financial markets, our thoughts and prayers go out to those who are ill and struggling. As part of their effort to mitigate the fallout, businesses should review their leases and other related agreements. In today's issue, we provide five suggestions with respect to your commercial lease and COVID-19.
As the COVID-19 coronavirus wreaks havoc with our day to day activities and financial markets, our thoughts and prayers go out to those who are ill and struggling. As part of their effort to mitigate the fallout, businesses should review their leases and other related agreements. In today's issue, we provide five suggestions with respect to your commercial lease and COVID-19.
Every tenant needs the ability to transfer its lease with respect to a "corporate transaction" (such as a merger, consolidation or transfer of assets or equity interests) without the need to obtain its landlord's consent. Often, the language of lease assignment and subletting provisions is ambiguous in this regard and this can lead to problems down the road. In today's issue, we provide seven suggestions when drafting a lease assignment provision to provide easy assignability for such a corporate transaction.
Although tenants struggle to obtain reasonable exit strategies for their commercial tenancies, some leases provide landlords with broad flexibility through a termination option in the event that the landlord decides to demolish, renovate or change the use of its building. The first drafts of these landlord termination options leave a lot to be desired in terms of providing protections for the tenant. In today's newsletter we discuss landlord termination options and provide ten suggestions to protect the tenant.
When things go wrong, or even extremely well, a commercial tenant may need an exit strategy with respect to its lease. In addition to the common remedies of assignment and subletting, it can be extremely helpful to have a termination option. In today's newsletter we discuss termination options and provide ten suggestions to make them as clear and unambiguous as possible.
With the prevalence of office leasing by technology and start-up companies and the increase of those same companies running into financial difficulties, landlords have understandably focused on obtaining protection through larger security deposits or guaranties. The marketplace has recently come up with a commercial tenant lease bond to try to address the landlords' concerns while also providing needed flexibility to tenants. In today's newsletter we discuss these lease bonds and provide seven suggestions when acting as sublandlord being asked to accept a lease bond in lieu of a letter of credit or guaranty.
When a tenant needs to sublease its space, it will likely require a security deposit from the subtenant ensuring performance under the sublease. Sophisticated tenants/sublandlords know that they will be better protected in the event of a bankruptcy of their subtenant if the security deposit is provided by a standby letter of credit. In today's newsletter we suggest thirteen requirements for any such letter of credit in order to best protect a tenant/sublandlord's interests.