When a business leases commercial space, it is common practice for the landlord to request that the company provide a personal guaranty, a protective measure taken to ensure landlords have recourse against a commercial lessee...more
Landlords that lease commercial property in Seattle need to be aware of major changes to the Municipal Code. Seattle recently enacted Ordinance 126982, which introduces significant regulations for commercial property lessors...more
In the last month of the most progressive Seattle City Council term in recent history, the Council passed an ordinance restricting a landlord’s right to use certain security measures for commercial leases in the City....more
New York City enacted Administrative Code Section 22-1005, known as the "Guaranty Law" prohibiting enforcement of personal guaranties supporting commercial leases, in May 2020. The law applies to defaults that occurred...more
On Sept. 23, 2020, the New York City Council amended the personal guarantor provisions of Local Law 55 of 2020, which went into effect on May 28, 2020 and was designed to protect businesses affected by Gov. Andrew Cuomo’s...more
On May 26, 2020, Mayor de Blasio signed into effect N.Y.C. Council Int. No. 1932-A (2020). The law amends NYC administrative code by rendering unenforceable provisions in commercial leases providing for personal guaranties by...more
On May 26, 2020, New York City enacted a law that renders personal guaranties unenforceable for commercial tenants impacted by COVID-19. Section 22-1005 of the Administrative Code of the City of New York states that a...more
In the opening scene of the 2008 “stoner action comedy” Pineapple Express, as Eddy Grant’s “Electric Avenue” pumps out of the car’s stereo speakers, the film’s protagonist, Dale Denton (Seth Rogen), in various disguises...more
Whether it is expanding into a new market or moving out of the proverbial garage, it is common for a startup company to sign a commercial lease agreement in its early stages. In negotiating the lease, the company’s legal...more
Hot real estate topics, cool beverages & networking with friends in real estate and other industries! Thursday, June 25: Tenant default: tips for negotiation of lease provisions on the front and rights of tenants on the...more