April 02, 2017Leasing requires more than just a good eye for location. Your professional duties require you to provide competent services. This means you must understand the legal implications of standard terms and how these terms can make or break your client’s business.
March 30, 2017A Commercial Lease is an agreement where a commercial tenant agrees to rent property from a commercial landlord for a specified fee, purpose, and duration of time.
September 26, 2016In AIM Health Group Inc. v 40 Finchgate Limited Partnership (2012) ONCA 795, the landlord ('Finchgate'), entered into a 5 year lease agreement with the tenant ('AIM').
July 20, 2016Congratulations - you’re the proud owner of a business! One of the most important steps you will take in operating that business will be to lease out a space from which to sell your goods and/or services. This commercial lease will have a number of standard clauses, including a description of the leased premises, the rental payments, the term of the lease, possible term renewal options, and, in all likelihood, an overholding clause.
May 27, 2016We all hear about the big commercial deal where millions or even billions exchanged hands. But what we don’t hear about is an unusual document that can make or break that deal.
May 17, 2016Lawyers are great assets for any real estate agent or realty team. They’ll help you craft a legally acceptable arrangement, but they have their limits.
May 16, 2016It felt like I had a gun to my head. Either lease up one of the most unpopular rundown buildings in Alberta or go bust. We made a classic real estate “newbie” mistake.
May 13, 2016The most hated of lease clauses – the insurance clause – is not only frequently ignored, but is also poorly understood by almost everyone in the real estate industry. And that includes real estate lawyers. Yet, it can be the most dangerous.
May 13, 2016You’re a professional. You’ve been trained to understand what your client needs. And you know how to find the best real estate. You and your client are excited, you sign the offers and then close the deal.
April 01, 2016Tenants to a commercial lease should consider drafting a 'rent catch-up' clause, in the event that additional rent owed increases by a drastic amount.
March 02, 2016 A lease may have an option to purchase clause. For example, a lease may have a minimum rent provision along with a payment to be held in escrow for the purchase of the property. The escrow payment is not minimum rent.
March 01, 2016Before entering into a lease agreement, the tenant should negotiate the option to remove trade fixtures and leave the premises as the tenant had entered it.
February 02, 2016Depending on the circumstances of the parties involved in a commercial lease agreement, the name of the tenant on the lease can vary where a wholly foreign owned enterprise is leasing the property.
January 15, 2016What happens when leased equipment is installed in a rental property, and the tenant fails to pay the rent? The answer can depend on whether the equipment has become a ‘fixture’.
January 02, 2016Parties renewing a lease should ensure that the renewal terms are not contravening any laws within the jurisdiction where the agreement is being applied.
December 01, 2015Record high numbers of people are quitting their jobs to start their own businesses. This rise in entrepreneurial pursuits is creating an opportunity for tenant-only commercial real estate leasing agents.
October 16, 2015The most hated of lease clauses - the Insurance Clause - is not only frequently ignored, but also poorly understood by almost everyone in the real estate industry. And that includes real estate lawyers. Yet, it can be the most dangerous.
August 29, 2015I’ve had the opportunity to meet with numerous agents and lawyers who specialize in commercial leasing and they’ve all say the same thing: it’s a tedious, difficult and boring job to read a full lease, but it’s necessary.
July 22, 2015Where a commercial lease agreement so provides clearly and unambiguously, a guarantor can continue to be a guarantor upon the renewal of the lease.
July 20, 2015It is important for parties to understand their rights and obligations in standard commercial leases. Strictly speaking, tenants cannot expect to enforce any guarantee not contained in the lease.
June 05, 2015Drafters of commercial lease agreements should beware when drafting the minimum rent clause. An option to renew an agreement can oblige the landlord to offer to renew for the original (lower) rent, although the rental market may have increased.