Why Are Landlord and Tenant Indemnity Obligations Different in a Commercial Lease?
Indemnity provisions are an important component of commercial lease agreements, defining the extent to which each party is responsible for damages, claims, and liabilities arising from incidents related to the leased property. In essence, an indemnity provision is a...
What is a Security Deposit Burn Down in a Commercial Lease?
In commercial real estate leasing, security deposits serve as a critical risk mitigation tool for landlords. Unlike residential leases, where security deposits are often limited by law, commercial landlords have significant discretion in setting the amount and...
A Tenant’s Guide to Estoppel Certificates
When a landlord requests an estoppel certificate, commercial tenants should approach the document with caution and understanding. While an estoppel certificate is not intended to modify a lease, it can significantly impact a tenant's future rights and claims. This...
An Introduction to Operating Expenses in Commercial Leases
Introduction Operating expenses (OpEx) in a commercial lease can significantly impact a tenant’s total cost of occupancy. While base rent is typically a fixed expense, OpEx is often variable, unpredictable, and largely outside the tenant’s direct control....
Tips for a Commercial Landlords Dealing with Abandoned Tenant Property in Massachusetts
Commercial landlords in Massachusetts may occasionally find themselves dealing with property left behind by tenants who have vacated their premises, either voluntarily or through eviction. While it may seem straightforward to remove and dispose of these belongings,...
What is the Significance of Signing a Commercial Lease ‘Under Seal’ in Massachusetts?
Massachusetts law contains certain legal traditions that may be unfamiliar to individuals and businesses from other states. One such unique aspect is the concept of signing a document "under seal" - whether or not a physical seal is actually used. While the use of...
Escrow Provisions in a Commercial Purchase and Sale Agreement
A commercial real estate Purchase and Sale Agreement ("PSA") typically requires the buyer to make a good faith deposit concurrently with or shortly after signing the agreement. This deposit plays an important role in the transaction. Typically the deposit will...
Negotiating Access Rights in a Commercial Real Estate Purchase Agreement
In a commercial real estate transaction, the Purchase and Sale Agreement (PSA) typically grants the buyer the right to access the property during a defined due diligence period. This period allows the buyer to inspect the property’s condition and discover any...
Negotiating a Landlord Warranty in a Commercial Lease
When entering into a commercial lease, one of the key considerations for a tenant is the condition of the leased premises. In most cases, the tenant takes the premises in its "as-is" condition upon delivery, meaning that defects or issues with the space may become the...
What is a Must-Take Provision in a Commercial Lease?
In the world of commercial real estate leasing, flexibility and forward planning are key considerations for both landlords and tenants. One of the provisions that can help address a tenant's future space needs while providing a landlord with a committed tenant for...