Hidden charges, surprise terms, unexpected restrictions - when it comes to commercial leases, any number of things can go wrong. That is why we have taken the opportunity to round up 37 of the biggest commercial lease mistakes you absolutely need to watch out for. Eliminate the dangers before your client signs on the dotted line - order today!
6 Letter of Intent and Due Diligence Oversights That Come Back to Haunt
6 Term, Renewal, Rent, and Rate Structure Pitfalls
6 Hidden Costs to Avoid: CAM, Taxes and More
5 Pitfalls and Misunderstandings Re: Maintenance, Repairs, and Tenant's Work
5 Examples of Use and Exclusive Use Provisions Gone Wrong
5 Force Majeure, Early Termination, Rent Setoff and Lease Amendment Traps
4 Landmines to Avoid With Lease Default and Landlord Remedies
BONUS: Drafting Ambiguities That Lead to Disagreements and Litigation
JAMES A. HOCHMAN is a partner with the Chicago firm of Schain Banks Kenny & Schwartz, Ltd., where he represents commercial real estate brokerage firms, landlords, tenants and commercial real estate investors, assisting in all phases of commercial and residential real estate. Mr. Hochman is a frequent speaker on real estate broker related legal issues for state and local estate organizations. He co-wrote and sponsored the Illinois Commercial Real Estate Broker Lien Act, and several other states have adopted similar statutes through his drafting and lobbying efforts. Mr. Hochman is also active in support of license portability legislation for commercial real estate brokers, and is the architect and drafter of statutes in several estates on that issue as well. He earned his A.B. degree from Brown University and his J.D. degree from Boston University School of Law.
BARRY I. MORTGE is the principal attorney in the Law Office of Barry I. Mortge. He represents both individuals and businesses in commercial litigation matters. Mr. Mortge focuses his litigation practice on real estate related matters, including foreclosure actions and lease disputes. He also litigates mechanics' lien actions and other general contract-related matters. Mr. Mortge has been involved with partnership and shareholder disputes. He has tried numerous cases in both the state and federal courts and has extensive appellate experience. Mr. Mortge is admitted to practice in Georgia and before the Supreme Court of Georgia and Georgia Court of Appeals, the U.S. District Court for the Northern and Central districts of Illinois, and the 7th Circuit Court of Appeals. He is a member of the Federal Trial Bar of the U.S. District Court for the Northern District of Illinois, as well as the Illinois State Bar Association. Mr. Mortge is also of counsel to the firm BeckerGurian, representing its clients involved in litigation matters. He earned his undergraduate degree from Furman University and his J.D. degree from the Walter F. George School of Law, Mercer University. Mr. Mortge is a member of the Illinois State Bar Association's Committee on Professional Responsibility which authors ethics opinions to be recommended by the ISBA governing body.
STEVEN J. VATNDAL has been a sole practitioner for more than 10 years, in Mankato, Minnesota, practicing in the areas of business, commercial real estate, estate planning and probate. Within those areas about two-thirds of his work is transactional and one-third is litigation. Previously, Mr. Vatndal was an associate and then partner with Gislason & Hunter, LLP, in their Mankato office; and earlier an associate with de la Mora & de la Mora in a suburb of Milwaukee. Mr. Vatndal earned his B.A. degree, with distinction, at the Morris campus of the University of Minnesota, and his J.D. degree, cum laude, from Marquette University Law School. He is certified by the Minnesota State Bar Association as a real property law specialist, and has presented real estate seminars for the Minnesota State Bar Association Continuing Legal Education program.
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