July 18, 2017
How do I obtain an Ohio commercial real estate broker lien? First, let’s be clear: There is no lien right for real estate brokers for property consisting solely of between one and four residential units. (O.R.C §§1311.85 and .86). However, licensed real estate brokers do have lien rights in transactions involving commercial properties, i.e., anything other than between one and four residential units. (O.R.C §§1311.86). The lien rights … Continue reading Ohio real estate brokerage law: Liens for Realtors in commercial transactions
June 23, 2017
In a case that was previously discussed here, the Ohio Supreme Court issued an important ruling in a real estate valuation case, Terraza 8, LLC v. Franklin County Board of Revision, 2015-2063, yesterday. R.C. 5713.03 was amended in 2012 – allowing that the auditor may consider a recent sale price as the true value of … Continue reading Real property tax valuation: Ohio Supreme Court ruling gives force to legislative changes
June 2, 2017
In commercial tenant space, whether office, warehouse, manufacturing or retail, landlords typically want three-, five- or seven-year lease terms. And this is reasonable given the cost of tenant build-out, Realtor commissions and the demands of their mortgage lenders. It also is relatively standard in the marketplace. However, a tenant will rightfully reason that they can’t anticipate … Continue reading Commercial leases: Here’s a valuable tenant tip: Ask for an early termination option
April 20, 2017
For both landlords and tenants, there is curious and confusing phraseology in many if not most commercial leases relative to the payment of rent: Rent will be paid without any set-off, counterclaim, deduction or recoupment whatsoever. That sounds like (and is) a lot of legalese, but what does that mean? It is, in fact, an … Continue reading Commercial Leases: “No right of offset,” what does that mean?