An operating covenant is an agreement by the tenant to continuously operate its store for a set number of months or years and for a designated number of hours and days each week. Such covenants frequently appear in leases containing a percentage...
What effects will the Internet have upon real estate markets? This complex question cannot be answered in a short column. However, I will set forth some thoughts about how to approach answering it...
The value of a rental space can vary greatly over time, out of proportion to automatic cost of living increases or fixed rent increases. Therefore, landlords and tenants often agree to adjust future rent based on a determination of fair market...
The rent commencement date establishes two of the tenant's most important obligations: the duty to pay rent and, if tenant has covenanted to open and operate, the duty to open for business. In negotiating a rent commencement date, the landlord...
The tenant's right to change the trade name of its store in a shopping center during the term of a lease is often hotly contested in lease negotiations. It is such a controversial issue because what trade name is used on a retail store affects the...