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The Importance of Good Guy Guarantees and Security Deposits in a Commercial Lease from a Landlord and Tenant Perspective — 1-Hour FREE NYS CE Credit - Shared screen with speaker view
Louis Fisher
Traffic, The Low Rent of High Heeled Brokers
Ryan Haber
Good morning! Here’s today’s Good Guy Guarantees and Security Deposits course outline: https://bit.ly/3jnmXuh
Louis Fisher
Or, The Low Security of High Heeled Landlords... bet you didn't know about that Parody By Louie Da Lease
Robin Robins
what is “standard” security deposit in NY?
Irwin Krasnow
Would it be prudent for you to review the LOI before we send it out
Miles Mahony
Larry can you please go over the Hip Sushi 9th St shell vs operating entity again?
Doug Kleiman
I think Larry’s point is that the LOI should include that there is a GGG when repping a LL
Harris Bulow
sorry, how are we to negotiate the GG Clean Out circumstances? Add “In the event of...partner dying...MTA goes tits up...etc”? LL and Tenant are going to think I’ve lost my mind.
Doug Kleiman
(whoops…meant for an attendee)
Irwin Krasnow
When a tenant defaults and doesn't exercise their GGG and you have to evict them. When we go to collect on their PG for the full term of the lease. Has the court ever reinstated the GGG to protect the tenant or should the LL prevail against the principals?
Paul Fetscher
A Landlord cannot GUARANTEE Sales, ergo, the tenant cannot GUARANTEE Rent throughout the term of the lease. There Must be a way to leave. A landlord is entitled to either his rent, or get the space back. That can be personally guaranteed. But there needs to be a "Back Door" for the tenant to exit.
Miles Mahony
I have found that the workletter is equally important, and sometimes more important , than the LOI language.
Irwin Krasnow
the GGG affirmation does that only apply to a change of the lease in writing?
Doug Kleiman
…and lien waivers!
Miles Mahony
Larry why so much reliance on the personal guarantee? Isn't it extremely difficult to actually collect?
Ryan Haber
This month (and for September as well) Leasing REality will donate 15% of subscription sales to Harlem Lacrosse and 100 subscriptions to students and alumni of Harlem Lacrosse. 1 for 1 — for every subscription purchased, an additional subscription will be donated to Harlem Lacrosse as well.
Ryan Haber
If you are in a position to help, please “Make a Difference with Your Subscription” purchase and/or donate: https://leasingreality.com/charity
Miles Mahony
Quote of the Day: "You and your client are smoking crack...IN THE MORNING!" hahah
Ryan Haber
Feel free to reach out to Larry at 917.362.9413 or lhaber@agmblaw.com for any unanswered questions/comments. Stay safe and thank you for joining us today!
Ryan Haber
Note that we will submit the “student list” to the DOS as soon as possible. Thereafter, we will generate certificates for those that provided broker license credentials during the registration process - an email will follow when the certificates have been uploaded to Leasing REality with access details. If you have any questions don’t hesitate to reach out.
Louis Fisher
Great Webinar Larry ! Check out that Traffic Album , Low Sparks of High Heeled Boys....
gary schacker
Thanks Larry, you make it easy, pleasant and informative!
Miles Mahony
Thanks Larry...great session!!
Paul Fetscher
The ACTUAL CPI increase over the last Decade is a mere 1.63%
Ryan Haber
Here’s today’s outline with the example GGG if you missed it from earlier: https://bit.ly/3jnmXuh
Doug Kleiman
require notices of default provided to sub-tenant
Doug Kleiman
Thanks Larry!!