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When a commercial real estate tenant defaults on a lease, there is substantial risk not only for the tenant but also for the landlord. Though the lease may specify extensive landlord remedies, most courts will strictly construe the lease against the landlord, requiring strict adherence to notice of default and other process-related provisions in the lease. Failure to comply with these provisions and the requirements of law exposes the landlord to substantial liability, including lease termination and loss of rent, even though the tenant is in default.
There are additional risks if the landlord accepts partial rent payments from the tenant or takes possession of the leasehold or tenant chattels.
This program provides a practical guide to tenant default under commercial leases and provide tips for drafting leases to protect landlords.
- Drafting in anticipation of tenant default
- Essential steps in providing notice of default and eviction
- Common landlord mistakes – waiver of tenant default, tenant lockouts, disposal of tenant/third party property
- Liability issues for landlord – lease termination, loss of rent, damages
- Tenant remedies for improper landlord actions