According to Airbnb, hosts in Massachusetts earned over $256 million from 1.2 million renters. The growth of private vacation rentals deriving from Airbnb, HomeAway, VRBO, and similar websites has provided extra income for property owners in Massachusetts and additional options for travelers to the state. The tremendous growth, however, has also prompted state and local
Typically when entering a commercial lease, the tenant pays to the landlord a security deposit to ensure that the tenant complies with the lease and returns the space in the proper condition. Depending on the credit history and specifics of the lease, the commercial lease security deposit can range from one month’s rent to a
Like many seaside areas of Massachusetts, Dennis has a sought-after beach on Cape Cod Bay. So much so in fact that access to one particular beach area is the subject of three appellate decisions. The seaside neighborhood in dispute consists of approximately 200 acres, which was developed into residential lots beginning approximately 1903. Generally, the
With the skyrocketing real estate values in Greater Boston the last few years, many owners of two, three and four family homes have thought about converting their properties into Condominium ownership so that they can legally sell off one or more units and maximize their total value from the properties. If you are thinking of
Restrictive covenants are, in a nutshell, private restrictions on the use of land. They are generally disfavored by state law, and developers must adhere to strict guidelines to protect their enforceability beyond a thirty-year period. Restrictive covenants typically arise during residential or commercial developments. Before selling off property, a developer could create restrictions governing certain
Commercial leases typically divvy up the costs for maintaining a building and property amongst the tenants. These costs are called common area maintenance expenses, CAM for short. Leases can be structured in many different ways, and the devil is in the details. Below are a few provisions to review closely to limit post-occupancy surprises. 1.
When you have decided to purchase a home in Massachusetts, you have undoubtedly made a life-altering expensive decision. Once the offer to purchase has been accepted by the seller, the first question your broker will likely ask you is whether you intend to hire your own attorney to assist and guide you through the next
Commercial landlords are routinely requested to enter into waivers with tenant lenders and equipment lessors regarding the secured interest that the landlord acquires in the tenant’s personal property either statutorily, in a lease provision, or in bankruptcy. Since landlords succeed when their tenants are successful, landlords usually sign lien waivers without much thought or concern.
The purchase or financing of rental real estate, whether commercial or residential, involves a long list of “due diligence” or homework, that a prospective purchaser or lender must undertake to eliminate or at least reduce the financial risks of this type of real estate investment. Most people are familiar with the “big things” involved in
Gary Hogan, a partner at Baker, Braverman & Barbadoro, P.C., will be a featured speaker at the National Business Institute’s Ultimate Guide to Commercial Real Estate Law presentation being held on Monday and Tuesday, March 7-8th at the Sheraton Providence Airport Hotel. Gary’s presentation is titled “What Happens to Leases, Loans and Contracts if a
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