Commercial Landlords – Pay Attention: Effective January 1, 2025, landlords leasing commercial space to certain “qualifying commercial tenants” (“QCTs”) QCTs include office, industrial, retail and restaurants that are (1) microenterprises with five or fewer employees (full or part-time, including the owner) and generally lack access to financial capital; (2) restaurants...
COMMERCIAL LANDLORDS COVID-19: Force Majeure Clauses in Contracts – NY Court Decision We previously noted that most commercial leases contain Force Majeure clauses, that is, a provision in the lease that allows the tenant or landlord to be released from performance if there is an act of god or some...
NEW LANDLORD PROTECTIONS - COVID BANKRUPTCY FILINGS BY TENANTS The newly enacted Consolidated Appropriations Act, 2021 (“CAP”) makes several amendments to the Bankruptcy Code based upon the severe financial hardships suffered by both tenant debtors and landlords as a result of the COVID-19 pandemic. The amendments relate to the deferral...
COVID-19: Force Majeure Clauses in Contracts – Court Decision These are trying times. Did your business get shuttered by governmental mandated closure orders due to COVID-19? Are your business vendors and contract parties still looking to your business to timely pay and perform as normal? Contracts often include a force...
KEY PROVISIONS OF ASSEMBLY BILL 828 (AB 828): On April 14, 2020, Assemblyman Phil Ting (San Francisco) introduced legislation for a temporary moratorium on foreclosures and evictions due to the economic impact of COVID-19. In an unlawful detainer action, if the tenant’s inability to pay rent is due to increased...