The increased transition to work-from-home has led to renewed renegotiations of office leases. Companies large and small face concerns as to obligations under their commercial leases. There are several potential solutions for both landlords and tenants.
Some businesses may consider whether office sharing or hoteling is the solution to reducing their footprint in office space. Still, co-tenants have to consider an agreement that addresses the ownership of assets and repairs of the leased property.
The parties must determine whether a proper contractual resolution is possible. Tenants positioned for a true resurgence may want to look at abatements or deferrals. Tenants subject to a true contraction may consider subleasing or assigning portions of the space or term of the lease to a new tenant.
Outside of contract, there are common law solutions if either party identifies grounds to pursue (or defend) a claim regarding the doctrines of impossibility, impracticality of purpose, or frustration of purpose.
Finally, the stakeholders must consider the context of the overarching situation when attempting negotiations. What is the current occupancy level of an office development and how will that impact negotiations? What is the financial condition of the tenant? Is bankruptcy more or less a certainty such that a deferral is simply moving a few months down the calendar?
Tenants negotiating new leases should consider language that will address rent relief if and when there is another pandemic or other health emergency that results in closures or reduced business hours or restricted occupancies.
Listen as our expert panel discusses the possibilities to negotiate and resolve lease issues landlords and tenants face in light of the current economic trends and addresses the contractual, common law, and contextual issues that come into play when trying to meet each parties' needs.
Dodge Data & Analytics
Dodge’s recently published World Green Building Trends 2018 SmartMarket Report provides a comprehensive look at the level of green building activity, influences on the green building market, business benefits of green and use of green products and services across all players in the construction industry in 19 global markets. This webinar focuses on one slice of that overall study, the responses of owners and contractors in the U.S.
Automating commercial real estate ‘back end’ tasks is a major objective for running the enterprise efficiently and freeing up important resources for strategic planning and catalyzed innovation. This series kicks off with a deep dive into the digital infrastructure of most commercial real estate companies. It continues with reviewing opportunities for investment management automation and introduces proven use cases of process automation in commercial and corporate projects. Thought leaders from some of the most automated real estate organizations in our market share insights on their integration initiatives and talk about the challenges and benefits of their own process automation projects.
When evaluating ‘back end’ automation opportunities there are many options for increased efficiency and enhanced business insight through data integration, normalization and interaction. This session addresses the best opportunities for automating ‘back end’ processes such as leasing, AP/AR, budgeting and forecasting, document management and others.
Credit Union National Association
This webinar focuses specifically on the disclosures and statements required in connection with mortgage loan transactions.
Topics discussed will include:
- Application disclosures specific to home equity lines of credit (HELOCs)
- Periodic statement requirements for HELOCs
- Properly disclosing a closed-end mortgage loan including the Loan Estimate