Real Estate Development, Sales and Leasing Industry Blog
Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges: Part 5 – Commercial Foreclosures 101
Sometimes, foreclosure of a commercial property is the only option available to lenders and servicers to limit losses as a result of defaults on hotel and restaurant mortgages. Parts 1-4 of this series discussed pre-foreclosure options available to lenders dealing … Read Full Post
Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges: Part 4 – Assignment of Rents Under Section 697.07, Florida Statutes
Parts 1-3 of this series explored alternative pre-foreclosure loss mitigation options for lenders including acceleration and enforcement of personal guarantees. This article explores Section 697.07, Florida Statutes, which governs the assignment of rents. Assignment of Rents under Section 697.07, Florida … Read Full Post
Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges – Part 3: Commercial Mortgage Default Options Including Acceleration and Enforcement of Personal Guaranties
In reviewing a loan file after a default by a borrower, lenders should evaluate whether the loan includes an acceleration clause and whether the loan is secured by any personal guaranties. With commercial loans, typically the loan documents will include … Read Full Post
Does a Commercial Landlord Have a Duty to Mitigate Damages After a Tenant Breaches the Lease Agreement?
Generally, a commercial landlord does not have a duty to mitigate or reduce its damages after a tenant breaches the commercial lease agreement. See Coast Fed. Savs. & Loan Ass’n v. DeLoach, 362 So. 2d 982, 984 (Fla. 2d DCA … Read Full Post
Understanding Easements, Rights-of-Way and Their Affects on Property Value
The value of property can be highly dependent on the rights—like easements and rights-of-way—that come along with it. For example, your property value will be affected by the extent of your ability to build on the property, or if a … Read Full Post
Florida’s Consumer Collection Practices Act (FCCPA) Part 2: Implementing Safeguards and Internal Procedures to Establish a Bona Fide Error Defense to Violations of the FCCPA
Part 1 of this series provided an overview of Florida’s Consumer Collections Practices Act (FCCPA) and explained why it is imperative for all business owners to be aware of, and understand, the FCCPA. This article explores Section 559.77’s bona fide … Read Full Post
Florida’s Consumer Collection Practices Act (FCCPA) Part 1: Understanding the FCCPA
All businesses in the state of Florida need to be familiar with Florida’s Consumer Collection Practices Act (“FCCPA”). The FCCPA is found at Sections 559.55-559.785 of the Florida Statutes. The FCCPA is intended to protect consumers and is intentionally unfair … Read Full Post
Treatment of Commercial Leases in Bankruptcy
The novel coronavirus pandemic and related government “stay at home” and “shelter in place” orders are causing serious negative financial impacts to business of all types. Many of the hardest hit industries, such as restaurants and retailers, are industries in … Read Full Post
Commercial Evictions 101
One of the most important considerations for commercial property owners and managers is maintaining tenant occupancy. However, commercial property owners and managers will inevitably encounter tenants who refuse to pay rent or who refuse to vacate the premises after the … Read Full Post
Tips and Strategies for Building Owners to Closeout a Construction Project
Winding up a construction project and transitioning occupancy to the building owner (i.e. project closeout) can be a harrowing ordeal for an owner with little to no construction experience. Even for experienced owners, Project closeout can be a challenge and … Read Full Post