After you successfully negotiated for a lease guaranty, the last thing the landlord wants to discover later is that the Guaranty is not enforceable or difficult to enforce. Here are 5 tips to help avoid such a problem when completing the AIR Lease Guaranty: Entity as Guarantor – Identify Name and Title of Person Signing: [...]
Could a quick e-mail from a Buyer’s broker to a Seller’s broker stating “Buyer finds the environmental report unacceptable” accidentally terminate a purchase and sale agreement? Could an e-mail from a tenant's broker to a landlord's broker stating "tenant is going to exercise the option” be an unintentional exercise of an AIR option to extend [...]
The AIR multi-tenant lease (gross) is a "modified" gross lease. A tenant pays its share of any increase in taxes and insurance over a base year. However, there is no base year for CAMs (Common Area Maintenance Fees). A tenant therefore pays its share of the total CAMs for the year. Many owners of [...]
A recent change to the AIR lease will benefit certain tenants that bring Hazardous Substances onto the Premises. Before the revision, when a lease term was expiring, a tenant was required to remove all Hazardous Substances brought onto the Premises during the lease term. Tenants frequently performed work that exceeded statutory requirements. Now, a tenant is [...]
Has a tenant's failure to complete its estoppel certificate ever threatened to delay the sale of your property or the closing of a refinance? For many owners, the answer is yes. A recent revision to the AIR lease forms attempts to solve this problem. If a tenant fails to timely deliver its estoppel certificate, [...]
In a prior post on the A.I.R. Forms Practitioner, I addressed the question: Should landlords use the AIR lease form? For landlords that decide to utilize the AIR lease with modifications, below are some of the modifications to the AIR lease that I sometimes include. Transfer Premium: Particularly for longer term leases, I often include a “transfer [...]
The AIR form lease continues to be widely used in California. In a typical leasing transaction, it is the landlord that presents the initial draft of the lease. Advantages of the AIR Lease The benefits of an AIR lease are clear. Negotiations move quicker when the broker and/or attorney representing the tenant are familiar with [...]
