Christy L. Abbott Published in Commercial Leasing Law and StrategyOctober 2, 2014
Christy L. Abbott's article "The Perils of Failing to Timely Collect Rent Increases" appeared in the August issue of Commercial Leasing Law & Strategy, published by Law Journal Newsletters. The article examines what recourse landlords have (or don't have) when they fail to collect automatic rental increases as stipulated in their leases. The article includes a review of court decisions discussing this situation with various outcomes. In order to avoid confusion and subsequent legal battles, Christy suggested specific points for both landlords and tenants to consider when negotiating lease language related to automatic rent adjustments.
An excerpt reads, "The parties should include specific provisions regarding how such rent adjustments will be calculated, billed, and paid, including any notices to be provided in connection therewith and the time periods for such actions. Landlords should include express provisions that a tenant's obligation to pay such adjusted amounts survives termination of the lease and that any failure by the landlord to notify the tenant or collect such amounts during the lease term does not impair or waive the landlord's right to collect such rent."
Christy practices in the areas of commercial real estate, creditors' rights, and commercial lending. She has experience in complex real estate transactions, loan workouts, restructurings, and foreclosures.
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