Brokerage

Implied Repair Covenants in Commercial Leasing

The United States traces its common-law heritage back over more than a millennia, and the statutes regulating real-estate transactions have changed substantially (to put it mildly). According to a study by Paula C. Murray that was published in the University of Richmond Law Review, “The tenant bore all the risk of the physical condition of the property — caveat lessee. The tenant could provide for landlord repairs in the lease, but could not withhold rent if the landlord failed to make those repairs. Additionally, the tenant assumed primary responsibility for the condition of the premises once he took possession of the property.”

Implied Repair Covenants in Commercial Leasing Read Full Article »

How Rent Abatement is Applied in Commercial Property Leasings?

Recent world events haven't exactly been kind to either tenants or landlords. The worldwide lockdowns resulting from the COVID-19 pandemic have led to radical shifts in commercial real estate. Millionacres reported that high-end commercial districts in New York have seen precipitous drops in cash flow, while Daily Business Review stated that some commercial property types in South Florida have watched their transaction values halve on a year-over-year basis.

How Rent Abatement is Applied in Commercial Property Leasings? Read Full Article »

17 Key Differences Between Commercial & Residential Properties

Investors intuitively understand that there are significant differences between residential property ownership and owning commercial property. For instance, residential real estate is private property intended to serve the round-the-clock needs of individuals, needs such as shelter and basic living space. Meanwhile, commercial real estate has its purpose right in its name: commerce. These locations facilitate trade and usually house businesses rather than people looking to lay their heads down after a long day.

17 Key Differences Between Commercial & Residential Properties Read Full Article »