After three and a half years of litigation and a two day trial, attorney Marshall T. Kizner, member of the Commercial, Retail and Industrial Real Estate Group, obtained an $816,627 verdict on behalf of a commercial landlord who brought suit against a personal guarantor.
Whether you’re a real estate developer, owner and/or landlord of commercial, retail, industrial or residential property, you know compliance with state and municipal laws is key to operations. If you fail to comply with existing laws, you can suffer penalties, losses and setbacks. This maxim was recently illustrated for a landlord that had its eviction case die for failing to legally comply with New Jersey notice requirements to evict.
There’s a big demand for multi-family and mixed use properties in New Jersey. Savvy owners have an opportunity to provide valuable housing and make a good profit at the same time. However, New Jersey has very strict residential leasing laws. If you violate these laws when leasing and operating properties, you can lose money and suffer civil, as well as possible criminal penalties. The good news is that adept counsel can help you to comply with these residential laws.
Having the right waiver and release can help you to quickly save money and find peace. If you fail to obtain a required waiver or release, you can suffer from liens, disputes and lawsuits.
Stark & Stark Shareholders authored the article titled “Spring Cleaning for Landlords: Cost Saving Tips in Light of Winter Woes” which was published by Shopping Center Business on March 13, 2014. The article discusses the various steps that landlords manage costs when recovering from a pricey winter season; much like this one.
Would you like to quickly recover more money? A recent article in Shopping Center Business Magazine reveals that landlords are increasingly using outside counsel to collect current and past-due balances. The February16th article, entitled “Property Management Trends to Watch in 2014”, explains that as the economy improves, landlords are increasingly retaining counsel to improve collections. This is good news, since experienced counsel can help landlords increase collections and cut collection costs.
To survive and thrive, landlords need to adapt. If you fail to adapt, you can be hurt. You can suffer lost tenants, lost rents, and missed opportunities. Additionally, you can suffer damages, from vacancies to bankruptcies. The good news is that landlords can adapt and benefit in many ways.
On January 17, 2014, Gov. Christie signed into law Assembly Bill 3851, requiring landlords of residential property to include additional language in new residential leases after February 1, 2014. The new law recognizes an implied covenant of collection of attorneys’ fees and costs for a tenant, if the lease allows the same for the landlord.
A common problem among finance companies seeking to enforce a commercial finance lease against a defaulted debtor/lessee is that documents are not fully executed or are otherwise disorganized. Unfortunately, for large finance companies that have hundreds, or even thousands, of accounts, not all the “i’s” are always dotted, nor are all the “t’s” always crossed.
