Publications: contracts

Some years ago new lodging start-up businesses with novel aspects of their industry emerged: AirBnB, Home Away, VRBO, Craiglist, Couchsurfing, Trip Advisor, Flip Key. These and other short-term rental sites became increasingly popular platforms among individuals and companies to offer transient lodging options for tourists and visitors traveling around the world.

            Such rapidly expanding and growing businesses, however, have not been immediately followed by an advanced, uniform and clear regulation that could plainly address their concerns.  Hosts (i.e., owners of the premises and landlords) are becoming more and more concerned with regulatory uncertainty and sometimes even Read More

Projecting rent expenses is one of the largest concerns of the tenants while negotiating lease agreements. Reasonable tenants would not want to “handcuff” their landlords in order to allow them to attract new customers and operate building effectively. But at the same time tenants would wish to control unanticipated rent escalation and skyrocketing financial liabilities as well as to minimize their exposure to surprising, improper and unreasonably increased invoices.

            However, despite being aware of the necessity to accurately formulate rent provisions, it turns out that when it comes to negotiation many tenants become convinced that fixing Read More

Description the leased permises: A well-written lease must clearly define the leased premises to include all aspects of the business’s needs, now and in the future. It is important that the tenant understand what square footage the leased premises includes in order to truly appreciate its rights and liabilities

Clarity: The language providing any financial obligations of the tenant must be exceedingly clear.  Nothing should be left to assumption or later negotiation.

Put the deposit on an escrow account. Do not give the deposit in cash directly to the landlord, but give it to the lawyer.

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