Many times, a commercial landlord really does not want to evict a non-paying tenant – particularly in those instances where the landlord is trying to keep up appearances at a center – but is left with little choice when a tenant falls so far behind in rent that the landlord is compelled to sue for possession.
In New Jersey, the eviction process is streamlined and allows a commercial landlord to swiftly regain possession of its property when the tenant has failed to pay rent.» Read More
If you are a commercial landlord, then chances are you have a relatively good relationship with your tenants. However, there are instances where a landlord and one of the tenants fall into a toxic relationship, or the tenant simply runs into financial difficulties resulting in nonpayment of rent, forcing the landlord to file an eviction action.
What can a landlord expect to have happen at the trial?» Read More
A Letter of Credit (“LOC”) is simply an agreement from a bank guaranteeing that Party A’s payment to Party B will be received on time and for the correct amount. LOC’s are used primarily in sizeable international trade transactions, i.e., a supplier in one country and a customer in another. LOC’s, however, can also be useful, and are regularly employed, in long-term commercial lease situations. » Read More
I previously wrote in this blog about the distraint process available to commercial landlords in New Jersey – a sometimes cumbersome process the purpose of which is to put into the landlord’s pocket at least some of the back rent due from a defaulting tenant (see The Distress of Distraint). In addition to the distraint statutes, there are other means available by way of statutes and contract provisions to protect a commercial landlord’s entitlement to unpaid back rent. » Read More