Legal Advice Blog: Legal Advice, Case Insights, & Local Law Information

To take advantage of a commercial property in California can be a great opportunity. Forbes explains how when you sign a lease, there is always going to be some amount of risk involved. If you know the risks, you may be able to make a more informed decision. When you set out to sign your commercial lease, there are a few factors to know. Be aware of guaranteed tenant improvements. Tenant improvements include costs to make improvements on the property. If you are not aware of this stipulation, then you could wind up gaining more debt without realizing it. You should always look for any hidden fees before you sign the lease. Once you sing the lease, you agree to abide by all terms and fees. Before you sign, you should break down all of the associated costs and fees. This includes the following: Rent Insurance Management Common area maintenance Add up all of your fees before you sign the lease. When you embark on signing a lease, you should also have specific goals in mind. The office space or commercial property has to meet specific business needs. You always want to evaluate how you will fit in the space that you lease. The other terms you need to pay close attention to are the ancillary terms. These have an impact on how much you will pay every month. For instance, this will cover maintenance costs, unexpected repairs, custodial services and more. The provided information is for educational purposes only. It is not intended to be legal advice.

Mediation is a form of alternative dispute resolution. It often gets credit for reducing the costs and time investment of litigation. However, you may not always wish to go through mediation to handle your real estate disputes in California. Unfortunately, you may not always have a choice. The California Association of Realtors explains that many real estate contracts include a clause that mandates mediation in disputes. This does not mean you cannot ever go to court. It does mean you will have to go through mediation first to try to resolve the issue before you can even think about taking things into a courtroom. This may not be what you want to happen. That is why it is important to carefully read over real estate contracts. If you find yourself with a mediation clause and you agree to it, then you are bound by it, which may mean you have to deal with issues through mediation without ever being able to go to court. This type of clause is very common in real estate contracts. It is included in the CAR residential purchase agreement as part of the standard language. You may find it in agreements of all types. Of course, just because you agreed to mediation, it does not mean you have to come out of mediation with a resolution. If this happens, then you can go to court. Agreeing to mediation does not mean you agree to reach a resolution, and some situations are best going to court instead of resolving in mediation. This information is for education and is not legal advice.

Mediation is a form of alternative dispute resolution. It often gets credit for reducing the costs and time investment of litigation. However, you may not always wish to go through mediation to handle your real estate disputes in California. Unfortunately, you may not always have a choice. The California Association of Realtors explains that many real estate contracts include a clause that mandates mediation in disputes. This does not mean you cannot ever go to court. It does mean you will have to go through mediation first to try to resolve the issue before you can even think about taking things into a courtroom. This may not be what you want to happen. That is why it is important to carefully read over real estate contracts. If you find yourself with a mediation clause and you agree to it, then you are bound by it, which may mean you have to deal with issues through mediation without ever being able to go to court. This type of clause is very common in real estate contracts. It is included in the CAR residential purchase agreement as part of the standard language. You may find it in agreements of all types. Of course, just because you agreed to mediation, it does not mean you have to come out of mediation with a resolution. If this happens, then you can go to court. Agreeing to mediation does not mean you agree to reach a resolution, and some situations are best going to court instead of resolving in mediation. This information is for education and is not legal advice.

One of the nice things about the United States is the size of the country means a variety of economic situations. Investors in California are having a nice go currently, which allows them to invest in other areas that can really use the help. This is a great example of Americans helping each other. It also shows how one state’s economy effects another. Recently commercial real estate investors from California made a huge purchase in Chicago. The downtown area has been suffering from a bit of a downturn in its real estate market. This particular building has been on the market for quite some time. While bids have been coming in, they have not hit the target for the seller until the California group came along. The offer is lowering than the full asking price, but high enough to be effective in moving the sale along. The skyscraper will soon change ownership, which is a win for everyone who owns big office buildings in the downtown area. Since sales have been lagging, the sale of this building could signal a rebound, which is something everyone can get behind. Sometimes all it takes is an outsider to come in and change things. That will hopefully be the case for the real estate market in Chicago, and it is all thanks to investors from California who saw potential and made a deal. While this type of deal offers benefits to both the seller and buyer, not every real estate deal is as equal. That is especially true when it involves investment partnerships, which may benefit from consulting an attorney before finalizing deals. Source: Crain’s Chicago Business

One of the nice things about the United States is the size of the country means a variety of economic situations. Investors in California are having a nice go currently, which allows them to invest in other areas that can really use the help. This is a great example of Americans helping each other. It also shows how one state’s economy effects another. Recently commercial real estate investors from California made a huge purchase in Chicago. The downtown area has been suffering from a bit of a downturn in its real estate market. This particular building has been on the market for quite some time. While bids have been coming in, they have not hit the target for the seller until the California group came along. The offer is lowering than the full asking price, but high enough to be effective in moving the sale along. The skyscraper will soon change ownership, which is a win for everyone who owns big office buildings in the downtown area. Since sales have been lagging, the sale of this building could signal a rebound, which is something everyone can get behind. Sometimes all it takes is an outsider to come in and change things. That will hopefully be the case for the real estate market in Chicago, and it is all thanks to investors from California who saw potential and made a deal. While this type of deal offers benefits to both the seller and buyer, not every real estate deal is as equal. That is especially true when it involves investment partnerships, which may benefit from consulting an attorney before finalizing deals. Source: Crain’s Chicago Business

As a small business owner, you have to complete a variety of tasks every single day. If your company is expanding, though, finding the right property is likely high on your priority list. Unless you regularly deal with commercial leases, you may feel a bit out of your element. Signing a bad commercial lease can ruin your business enterprise. After all, if you default on the lease, your landlord may have a cause of action against your company. While commercial leases come in a variety of styles, there are some red flags that may cause you to reconsider the commitment. Here are three of them. Excessive lengths As you know, it can be difficult to gauge the future success and growth of any small business. Therefore, you should probably think twice before signing a long-term lease. If your company outgrows the space or you must wrap up business, you may have to continue to pay rent until your landlord finds a new tenant. Generally, commercial leases should be for about two years. The same is true for lease renewals. Triple-net clauses Sometimes, landlords ask renters to pay taxes, insurance, maintenance fees and rent. Known as triple-net clauses in commercial leases, these provisions almost always benefit the landlord. They can cause your property expenses to rise both considerably and uncontrollably. Undefined fees or penalties Good commercial leases are specific. If the lease you are thinking about signing has hidden fees, undefined penalties or other costs, you may be in for a big surprise. As such, always look for a commercial lease that spells out every expense your small business must cover. Like with all contracts, you should read and understand any commercial lease before you sign it. If you notice any of the above red flags, you should think twice before executing your lease. Only when you fully comprehend the consequences of the contract can you make the right decision for your company.

As a small business owner, you have to complete a variety of tasks every single day. If your company is expanding, though, finding the right property is likely high on your priority list. Unless you regularly deal with commercial leases, you may feel a bit out of your element. Signing a bad commercial lease can ruin your business enterprise. After all, if you default on the lease, your landlord may have a cause of action against your company. While commercial leases come in a variety of styles, there are some red flags that may cause you to reconsider the commitment. Here are three of them. Excessive lengths As you know, it can be difficult to gauge the future success and growth of any small business. Therefore, you should probably think twice before signing a long-term lease. If your company outgrows the space or you must wrap up business, you may have to continue to pay rent until your landlord finds a new tenant. Generally, commercial leases should be for about two years. The same is true for lease renewals. Triple-net clauses Sometimes, landlords ask renters to pay taxes, insurance, maintenance fees and rent. Known as triple-net clauses in commercial leases, these provisions almost always benefit the landlord. They can cause your property expenses to rise both considerably and uncontrollably. Undefined fees or penalties Good commercial leases are specific. If the lease you are thinking about signing has hidden fees, undefined penalties or other costs, you may be in for a big surprise. As such, always look for a commercial lease that spells out every expense your small business must cover. Like with all contracts, you should read and understand any commercial lease before you sign it. If you notice any of the above red flags, you should think twice before executing your lease. Only when you fully comprehend the consequences of the contract can you make the right decision for your company.

To buy a California home can be an exciting journey. What is not exciting, however, is when those hopes and dreams of a new property turn into nasty legal disputes later on. Fortunately, there are ways that you can protect yourself from facing legal disputes over your real estate investment. Understandably, to purchase real estate is exciting. It is a dream that many people hope to encounter someday. When you are purchasing a home, do not be too eager. Forbes warns not to skip the inspection. Some buyers forego the inspection to move the process along and wind up paying too much for a home full of problems. Inspections can alert you ahead of time to any issues. You should also be careful when it comes to placing offers down on a home. Remember that your offer is serious. Even if you hope to negotiate, you do not want to place a bid down that you are not willing to pay. If the seller accepts your offer, you may not be able to get out of it. You are agreeing to enter into a contract. As a buyer, you have to protect yourself. Buyers should purchase title insurance because it protects them from financial losses due to defects in the title of the property. The insurance company will research the title to find out if there are any debts or liens associated with your title. You do not want to risk a major loss when purchasing a property. The provided information is for educational purposes only and should not be taken as legal advice.

To buy a California home can be an exciting journey. What is not exciting, however, is when those hopes and dreams of a new property turn into nasty legal disputes later on. Fortunately, there are ways that you can protect yourself from facing legal disputes over your real estate investment. Understandably, to purchase real estate is exciting. It is a dream that many people hope to encounter someday. When you are purchasing a home, do not be too eager. Forbes warns not to skip the inspection. Some buyers forego the inspection to move the process along and wind up paying too much for a home full of problems. Inspections can alert you ahead of time to any issues. You should also be careful when it comes to placing offers down on a home. Remember that your offer is serious. Even if you hope to negotiate, you do not want to place a bid down that you are not willing to pay. If the seller accepts your offer, you may not be able to get out of it. You are agreeing to enter into a contract. As a buyer, you have to protect yourself. Buyers should purchase title insurance because it protects them from financial losses due to defects in the title of the property. The insurance company will research the title to find out if there are any debts or liens associated with your title. You do not want to risk a major loss when purchasing a property. The provided information is for educational purposes only and should not be taken as legal advice.

California landlord and tenant relationships can be complicated. Most landlords want to keep the relationship as smooth as possible. The most vulnerable times for a property owner and tenant is the move in and move out times. If a tenant moves out, you need to make sure that you receive written notice. Forbes states that In California, the tenant has to give a 30-day notice if he or she plans to vacate the premises. If you are renting out a property, then you should never accept verbal notice. Always get everything in writing. This leads no room for misunderstandings. Communication is important in preserving a property owner and tenant relationship. When your tenant is moving out, you should send a list of expectations and what you expect the tenant to do to keep his or her deposit as much as possible. If you want the tenant to use a specific cleaning company to clean the unit, you can specify it in this notice. If there are any damages to the unit, then you should make a list of damages. When you have to remove any money from the deposit, it can smooth things over to have a reason. This will also make it more difficult for the tenant to dispute the charges. If you do not tell a tenant why he or she did not receive the full deposit back, he or she may take legal action. In addition to listing damages, if you are going to be returning part of the deposit, then you need to make sure that you return the deposit on time.

California landlord and tenant relationships can be complicated. Most landlords want to keep the relationship as smooth as possible. The most vulnerable times for a property owner and tenant is the move in and move out times. If a tenant moves out, you need to make sure that you receive written notice. Forbes states that In California, the tenant has to give a 30-day notice if he or she plans to vacate the premises. If you are renting out a property, then you should never accept verbal notice. Always get everything in writing. This leads no room for misunderstandings. Communication is important in preserving a property owner and tenant relationship. When your tenant is moving out, you should send a list of expectations and what you expect the tenant to do to keep his or her deposit as much as possible. If you want the tenant to use a specific cleaning company to clean the unit, you can specify it in this notice. If there are any damages to the unit, then you should make a list of damages. When you have to remove any money from the deposit, it can smooth things over to have a reason. This will also make it more difficult for the tenant to dispute the charges. If you do not tell a tenant why he or she did not receive the full deposit back, he or she may take legal action. In addition to listing damages, if you are going to be returning part of the deposit, then you need to make sure that you return the deposit on time.

If you rent a California residence, then odds are you want to feel secure in your house or apartment. You do not want to have to worry about finding a new place to live at a moment’s notice. The housing market is difficult to navigate when you have a lot of time to find the perfect place. This is worse when you do not have ample time to apartment or house hunt. If you signed a lease, can the property owner terminate it for any reason? The answer is that if you are on a proper lease, he or she cannot. In order to terminate a lease, the landlord has to navigate legal channels. He or she has to give the tenant written notice. This cannot be an e-mail or any other form of communication. It has to be in writing. The Los Angeles Times explains that when you are on a lease, the property owner cannot give terminate your lease without a reason. He or she has to give you a 60-day notice. In that 60-day notice, he or she has to explain to you why he or she is terminating the lease. The reasons for terminating a lease generally involve tenants who did not pay rent, tenants who commit illegal acts or those who break the rental agreement. A property owner cannot evict a tenant as a form of discrimination against a protected class. If your landlord terminates your lease, make sure that you have the termination in writing. Then, it is crucial that you hang onto any important documents, like your eviction.