Unless it is a short-term lease, every New York City commercial lease contains at least one rent escalation clause. There are several types, but, in general, these clauses increase the rent — and other tenant payment obligations — on a fixed schedule (which is often yearly). This article includes topics for commercial litigation, landlord-tenant, and […]
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Negotiating Commercial Lease Common Charges
Both parties should attempt to be as specific as possible when negotiating commercial lease common charges. There is clearly a disparity in the knowledge of these costs. As part of their due diligence, a prospective tenant should request that the landlord provide a detailed history of past lease common charges. Many landlords believe that making […]
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