What are the basic laws on Commercial Real Estate?
Tenant and landlord laws
The purpose of California landlord-tenant legislation is to safeguard both parties’ rights in any renting or lease agreement. These laws define the relationship between the owner of the property and the person or thing using the area. Articles in these statutes regulate issues such as –
● Term of tenancy
● Rent payments
● Rights to end a lease early
Understanding California’s landlord-tenant regulations are essential if you own commercial property. The laws protect the rights of both you and your tenants.
Lease and rental agreements are examples of binding contracts in commercial real estate. One of the most important things you should know about these agreements is that they must have a solid structure and specified phrasing in order to be able to withstand any dispute.
Common eviction grounds for commercial renters in California include nonpayment of rent and lease violations, such as subletting when it is not permitted. After getting a notice of eviction for a violation, the tenant has three days to make things right. If the reason for the eviction is nonpayment of rent, the landlord is allowed to estimate the amount owing on the notice as long as it is made clear that it is an estimate.
As a proprietor of commercial real estate, you will require insurance to protect your investment. For information on commercial insurance law, it is imperative that you speak with a qualified attorney.