Landlord–tenant law

Retail Value Inc. Reports Third Quarter 2020 Operating Results

Retrieved on: 
Thursday, November 5, 2020
Architecture, Other Retail, Discount, Variety, Supermarket, Department Stores, Specialty, Convenience store, Commercial Building & Real Estate, Bridal, Construction & Property, Retail, Building Systems, REIT, Landlord–tenant law

In Puerto Rico, while 96% of the Companys tenants are open, most remain open subject to significant capacity and operating restrictions.

Key Points: 
  • In Puerto Rico, while 96% of the Companys tenants are open, most remain open subject to significant capacity and operating restrictions.
  • Further, as of October 31, 2020, the additional impact of the COVID-19 pandemic for the entire Company is as follows:
    Tenants paid approximately 72% of second quarter 2020 rents, 86% of third quarter 2020 rents and 84% of October 2020 rents.
  • The Company had reached deferral arrangements with tenants representing approximately 9% of second quarter 2020 rents and 4% of third quarter 2020 rents.
  • The Company granted abatements to tenants representing approximately 5% of second quarter 2020 rents and 0.5% of third quarter 2020 rents.

Recent Landlord Bankruptcy Filings Underscore Need for Temporary Rent Relief Based on Retailer Sales, According to The Lamy Group

Retrieved on: 
Thursday, November 5, 2020
Real property law, Landlord–tenant law, Land law, Law, Articles, Leasing, Legal documents, Property law, Landlord, Leasehold estate, Lease, NNN lease

However, with capacity limitsin place, many retailers and restaurants don't have the full potential for revenue to pay contract rent.

Key Points: 
  • However, with capacity limitsin place, many retailers and restaurants don't have the full potential for revenue to pay contract rent.
  • Landlords need to determine which tenants are truly in distress and cannot survive without some form of assistance, Lamy suggests.
  • How can the landlord know that the tenant is properly reporting sales and is paying the correct amount of rent according to the temporarily renegotiated rent relief?
  • Each lease and rent relief lease amendment is different in how it defines "gross sales" and what should befairly standard information.

Aircastle Reports Financial Results for the Three-Month Period Ended September 30, 2020

Retrieved on: 
Tuesday, November 3, 2020
Articles, Business law, Economy, Business, Contract law, Landlord–tenant law, Lease, Property law, Forward-looking statement, Aircastle

This represented approximately 14% of our reported lease rental and direct financing and sales-type lease revenues for the trailing twelve months ended September 30, 2020.

Key Points: 
  • This represented approximately 14% of our reported lease rental and direct financing and sales-type lease revenues for the trailing twelve months ended September 30, 2020.
  • Aircastle previously announced that we changed our fiscal year end to the twelve-month period ending on the last day in February.
  • This change better aligns our financial reporting with the financial reporting cycle of our shareholders, Marubeni Corporation and Mizuho Leasing Company, Limited.
  • Aircastle expressly disclaims any obligation to revise or update publicly any forward-looking statement to reflect future events or circumstances.

NPS Rent Assurance Drives Reversal of Outstanding Resident Rent Balances for Improved Cash Flow, Reduced Evictions Amid COVID-19 Crisis

Retrieved on: 
Saturday, October 31, 2020
Musicals, Articles, Musical theatre, Landlord–tenant law, Contract law, Business law, Legal documents, Property law, Lease, Rent

Similar Outstanding Balance Repayment Programs are underway with NPS clients in the hard hit states of Atlanta, Florida, and California.

Key Points: 
  • Similar Outstanding Balance Repayment Programs are underway with NPS clients in the hard hit states of Atlanta, Florida, and California.
  • "In this year like no other, we value the ability to work with our residents who got behind in rent obligations," says Rick Briemann, Vice President at Atlantic.
  • To date, half of the residents sampled have paid outstanding balances in full while staying current with monthly rent obligations and the other half continue making consistent payments via the NPS platform.
  • NPS Rent Assurance is offered exclusively through apartment leasing offices as a key component of conditional lease offers as well as a mechanism to automate outstanding balance initiatives for existing residents who fall behind in their lease obligations.

International AutoSource (IAS) Partners with Myfleet Lease to offer vehicle leasing and financing solutions to expats in Australia

Retrieved on: 
Friday, October 30, 2020
Articles, Contract law, Business law, Law, Private law, Landlord–tenant law, Lease, Property law, Car rental

Through this new partnership with Myfleet Lease, expats moving to or currently located in Australia can now access flexible financing and leasing solutions without an Australian credit or driving history.

Key Points: 
  • Through this new partnership with Myfleet Lease, expats moving to or currently located in Australia can now access flexible financing and leasing solutions without an Australian credit or driving history.
  • IAS can also offer all-inclusive car rental solutions through its global ReadyDrive program.
  • Expats are assisted throughout the entire process to find the right vehicle to fit their needs and budget.
  • International AutoSource and Myfleet Lease share the same values and commitment to our customers.

Piedmont Office Realty Trust Reports Third Quarter 2020 Results

Retrieved on: 
Thursday, October 29, 2020
Airlines, Articles, Contract law, Aviation, Business law, Landlord–tenant law, Legal documents, Property law, US Airways, Lease, Piedmont, New York Stock Exchange

Atlanta, Oct. 29, 2020 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. ("Piedmont" or the "Company") (NYSE:PDM), an owner of Class A office properties located primarily in select sub-markets within seven major Eastern U.S. office markets, today announced its results for the quarter ended September30, 2020.

Key Points: 
  • Atlanta, Oct. 29, 2020 (GLOBE NEWSWIRE) -- Piedmont Office Realty Trust, Inc. ("Piedmont" or the "Company") (NYSE:PDM), an owner of Class A office properties located primarily in select sub-markets within seven major Eastern U.S. office markets, today announced its results for the quarter ended September30, 2020.
  • During the three months ended September30, 2020, Piedmont completed approximately 229,000 square feet of leasing across its portfolio, with over a third of the activity related to new tenant leasing.
  • Such agreements generally rescheduled rent payments from the second or third quarter of 2020 to the fourth quarter of 2020 or into 2021.
  • Based on management's current expectations, the Company is reinstating guidance for the year ending December 31, 2020, which represents an approximately 6% increase over 2019 results, as follows:

RioCan Announces Third Quarter Results for 2020

Retrieved on: 
Thursday, October 29, 2020
Articles, Landlord–tenant law, Economy, RioCan Real Estate Investment Trust, Business, Lease, Renting

Includes tenant cash rent collection and CECRA government funding received as of October 28, 2020 relating to Q3 2020 billed gross rents.

Key Points: 
  • Includes tenant cash rent collection and CECRA government funding received as of October 28, 2020 relating to Q3 2020 billed gross rents.
  • Subsequent to the initial roll out in Q2 2020, this program was extended to September 2020.
  • FFO per unit for the Third Quarter was $0.41, an increase of $0.06 per unit or 17.2% from Q2 2020.
  • Residential rental leasing at the 361-unit Pivot, the newest RioCan Living addition, commenced in October with first occupancy expected for December 2020.

NCLA Intervenes in Case on Behalf of MO Housing Providers Harmed by CDC Eviction Moratorium

Retrieved on: 
Wednesday, October 28, 2020
Real property law, Property, Finance, Money, Landlord–tenant law, Eviction, Landlord, Leasehold estate, Costa–Hawkins Rental Housing Act

KC Tenants, a nonprofit supporting Kansas City area tenants, is challenging a Jackson County, MO judicial administrative order, arguing that it violates the CDCs eviction moratorium for Kansas City to continue operating its landlord-tenant courts.

Key Points: 
  • KC Tenants, a nonprofit supporting Kansas City area tenants, is challenging a Jackson County, MO judicial administrative order, arguing that it violates the CDCs eviction moratorium for Kansas City to continue operating its landlord-tenant courts.
  • NCLAs representation gives a voice to Missouri housing providers who are sidelined and suffering significant harm due to unpaid rent and monthly maintenance costs.
  • CDC has not identified any statute that permits it to halt evictions or to preempt state landlord-tenant laws.
  • The Jackson County court systems Administrative Order puts reasonable steps in place to maintain a functioning landlord-tenant court while following the CDC moratorium.

4Front Ventures Enters into US$30 Million Sale-Leaseback Transaction Agreements

Retrieved on: 
Wednesday, October 28, 2020
Articles, Contract law, Legal documents, Landlord–tenant law, Business law, Liability, Lease, Law, Private law

In accordance with the terms of the transaction, 4Front will occupy the Tumwater, WA and Georgetown, MA facilities pursuant to 20-year lease agreements, with two 5-year extensions exercisable at 4Front's discretion.

Key Points: 
  • In accordance with the terms of the transaction, 4Front will occupy the Tumwater, WA and Georgetown, MA facilities pursuant to 20-year lease agreements, with two 5-year extensions exercisable at 4Front's discretion.
  • 4Front anticipates no disruption to its operations as a result of the Transaction.
  • This news release was prepared by management of 4Front Ventures, which takes full responsibility for its contents.
  • 4Front Ventures disclaims any intention or obligation to update or revise such information, except as required by applicable law, and 4Front Ventures does not assume any liability for disclosure relating to any other company mentioned herein.

Unity Point Sells Out First Phase of Leasing of New Rental Apartments in Kingston

Retrieved on: 
Thursday, October 22, 2020
REIT, Other Construction & Property, Residential Building & Real Estate, Construction & Property, Urban planning, Software, Articles, Business law, Contract law, Landlord–tenant law, Lease, Property law, Unity, Apartment, Law

View the full release here: https://www.businesswire.com/news/home/20201022005268/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20201022005268/en/
    Residents in Kingston will soon have access to over 200 new high-quality rental apartments.
  • With the official launch of its residential leasing program this past Monday, Unity Point's first phase of leasing has already sold out in a matter of days.
  • (Photo: Business Wire)
    The Unity Point Leasing team is moving up the release of phase two to this coming Monday, October 26 to address the strong demand.
  • Comprised of 204 rental apartments, the mixed-use community at Unity Point also boasts 10,000 sq.