Recent Answers to Real Estate Lease Agreement Law Questions
Can I break a commercial lease if landlord stops providing heat?
Real Estate
Real Estate Lease Agreement
Colorado
I have been renting a commercial space for more than ten years. There have been consistent issues with heating and AC, as well as a leaking roof. For two weeks now there has been a major issue with the heater—it is not working. I have filed two maintenance requests, the first of which said the issue was handled. I just found out today (14 March) after reaching out a lot that the heater needs parts that are back ordered and won’t be available until 7 April. This is the last straw for me. I am wondering what the chances are of getting a letter about breaking the lease and being given time to find a new space. Any advice is helpful, and if this is possible I would love to get a quote.
Jane C.
It depends on the terms of the lease. The apartment is not habitable at the moment, so you should at least get a rent abatement. You should have a Colorado attorney review the lease.
What is the best type of commercial lease?
Commercial Real Estate
Real Estate Lease Agreement
Illinois
I am a landlord and am wanting to consider which types of commercial lease agreements I would want to use. I own a small strip mall and am looking to sign tenants that would be retailers.
T. Phillip B.
Much of that depends on the tenant and the agreement they are willing to enter into. Personally, I would want my tenants responsible for as much of the maintenance and upkeep of the property as possible. The same goes with the property taxes. You could calculate out what property taxes are / would be per square foot and allocate to them which will permit you to adjust rent annually to accomodate changes in the property taxes.
What questions should I ask for a commercial lease?
Real Estate
Real Estate Lease Agreement
Illinois
I am being asked to sign a commercial lease agreement and am interested to learn what types of questions I would want to ask the landlord before signing the agreement. Any thought or advice would be much appreciated!
Jane C.
I suggest you consult with an attorney who handles commercial real estate transactions. I suggest you as what charges you will be responsible for - water, heat, electric; what alterations are allowed; what repairs will the landlord cover; if the landlord will abate rent for COVID shutdowns.
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