A word about "time of the essence" and "renewal option" provisions as it pertains to commercial leases.

Jul 8, 2021

Kiritsis Law Offices Call 212 922 0005

Written By:  John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M

 

“Time of the essence” and “renewal options” are particular terms of art that can make the parties involved liable in all sorts of ways. Therefore, parties should not use these terms without legal counsel. New Jersey real property law does NOT include personal property.

 

Due to constitutional and other concerns, courts will typically avoid construing a lease in a way that leads to civil forfeiture.   All triple net leases are net leases, but not all net leases are triple net leases.  The lease should account for any pre-moving repairs and alterations.

 

With regards to rental lease agreements in New Jersey, it goes without saying that zoning variance type of lawsuits can be a very time consuming, infuriating ant expensive adventure to the unwary.  Landlords and tenants (especially, when dealing with commercial-use real property premises) should be mindful of not only their planned use actions with regards of the premises, but also of those of their surroundings.

 

The law as it pertains to lease contracts in New Jersey, may have changed and/or continue to evolve, during the legal changes brought on by Covid 19.  It is perhaps worth mentioning that even before the spread of the Coronavirus in the U.S., New Jersey Landlord/Tenant laws and real property leasing laws, were considered highly esoteric and by many were a sign of a much need legal reform.

 

To better assist in a quest of further analyzing this type of question(s) as revolving per this legal guide article, it may be useful to make additional inquiries, such as: Is it legal or practical to allow tenants to sublease? Are the premises that include rent or occupancy use complaint with recent building code regulations?  Should the lease contain specific clauses regarding issues with security deposits?

 

Our firm can help you draft, review, negotiate, and execute any type of New Jersey real property lease agreement. We are open seven days a week from 8 a.m. to 8 p.m. We offer prospective clients both exhaustive and comprehensive leasing law practice services, including the following:
 

Residential lease agreements.

Non-rent regulated residential lease contract agreements.

Rent regulated residential lease agreements.

Gross lease contract agreements. 

Netted lease agreements. 

Single net lease contract agreements. 

Double net lease agreements. 

Triple net lease contract agreements. 

Commercial leases with time extension option provisions.

Real property lease contract agreements. 

Addendum and side deal real property lease agreements. 

Lease contract agreements modifications.

Existing lease assumption lease agreements. 

Cancellation of real property lease contract agreements. 

Cancellation of residential lease agreements. Phone: (212)–922–0005. Kiritsis Law Firm. 

Cancellation of commercial lease contract agreements. 

Barbershop and beautician related lease agreements. 

Gas station and related use lease contract agreements. 

Restaurant and related use lease agreements. 

Food establishment and related use lease contract agreements. 

Deli and bodega related use lease agreements. 

Liquor store and other related use lease contract agreements. 

Bar and tavern related use lease agreements. 

Parking space and garage related use lease contract agreements. 

Religious institution and related use lease agreements. 

Church and related use lease contract agreements. 

Morgue and related use lease agreements. 

Synagogue and related use lease contract agreements. 

Buddhist temple and related use lease agreements. 

Hinduism temple and related use lease contract agreements. Phone: (212)–922–0005. Kiritsis Law Firm. 

Non-profit and related use lease agreements. 

501 (c) 3 organization and related use lease contract agreements. 

Lease sales back terms lease agreements. 

Lease contract agreement contracts with option to purchase clause.

Development site lease agreements. 

Tax favored lease contract agreements. 

Farming related lease agreements. 

Agriculture and related use lease contract agreements. 

Livestock related use lease agreements. 

Poultry related use lease contract agreements. 

Timber related use lease agreements. 

Mineral rights related use lease contract agreements. Phone: (212)–922–0005. Kiritsis Law Firm. 

Oil drilling related use lease agreements. 

Laboratory and medical testing related use lease contract agreements. 

Riparian and water rights related use lease agreements. 

Buffet-style restaurant use lease contract agreements. 

Dining hall use lease agreements. 

Landlord-focused and customized lease contract agreements. 

Tenant-focused and customized lease agreements.

Construction project centered lease contract agreements. 

Condo lease agreements. 

Co-op lease contract agreements. 

Condo co-op lease agreements. 

Condo-type building premises lease contract agreements. 

Co-op-type building premises lease agreements. 

Condo co-op building premises lease contract agreements. 

Single family dwelling lease agreements. Phone: (212)–922–0005. Kiritsis Law Firm. 

Two family dwelling lease contract agreements. 

Three family dwelling lease agreements. 

4-plex property lease contract agreements. 

Multi-family property lease agreements. 

Mixed-use property lease contract agreements. 

Commercial use building premises lease agreements. 

Industrial use property lease contract agreements. 

Locker room/storage type lease agreements. 

Postal office box related use lease contract agreements. 

Laundromat and other related use lease agreements. 

Carwash and other related use lease contract agreements. 

Florist, botanical, and horticulture use lease agreements. 

Hair saloon and related use lease contract agreements. 

Municipal related use lease agreements. 

Governmental entity organization related use lease contract agreements. Phone: (212)–922–0005. Kiritsis Law Firm. 

Hostel and other related use lease agreements. 

Adults-only recreational use lease contract agreements, including: Strip clubs, Marijuana dispensaries, etc.

Master lease agreements. 

Co-op propriety lease contract agreements. 

Hypothecating, equity-utilization, leveraging lease agreements. 

Drafting lease contract agreements.

Negotiating lease agreements.

Lease contract agreement and document review services.

 

We offer prospective clients services throughout the state of New Jersey, including the following counties:

 

Atlantic

Bergen

Burlington

Camden

Cape May

Cumberland

Essex

Gloucester

Hudson

Hunterdon

Mercer

Middlesex

Monmouth

Morris

Ocean

Salem

Somerset

Sussex

Union

Warren

 

You can call use today for a FREE initial consultation with a licensed New Jersey real estate attorney at (212) – 922 – 0005.

 

We offer a number of fee payment options, including: Flat, Hourly rate, Mixed-type (various payment plans combined).

 

We accept all standard methods of payment, including: Cash, Personal check,Business check, Cashier check, Bank check, Money order, Debit card, Most credit cards.

 

We also sell template-type products, including legal guide pamphlet-style booklets.

For more information on any of the above services and products, or any type of legally related service product, contact us at any of our New York and New Jersey branch affiliates.

 

Potential relevant citations and informational references:

 

U.S. Constitution

New Jersey Board of Bar Association 

Truth in Renting Act

Sailor and Soldiers Civil Relief Act

New Jersey Department of Community Affairs

New Jersey Law Journal

New Jersey Revised Uniform Limited Liability Company Law

New Jersey Secretary of State

New Jersey Judiciary -- Superior Court

U.S. Department of Housing and Urban Development 

 

Reste Realty Corp. v. Cooper, 53 N.J. 444 (1969)

Fargo Realty, Inc. v. Harris, 173 N.J. Super 262

Great Atlantic & Pacific Tea Co., Inc. v. Checchio, 335 N.J. Super 495 (App. Div. 2000)

Hoffman v. Seidman, 101 N.J.L. 106 (E. & A. 1925)

Sparks v. Lorentowicz, 105 N.J. Eq. 189 (E. & A. 1930)

Garden State Plaza Corporation v. S.S. Kresge Co., 78 N.J. Super. 485

N.J.S.A. 25: 1-12

Hous. Auth. & Urban Redevelopment Agency of City of Atl. City v. Taylor, 171 N.J. 580 (2002)

N.J. Indus. Properties v. T.C. & V.L., Inc., 100 N.J. 432 (19850

Clearview Farms, LLC v. Fannon, 145 A.D.3d 1556 (N.Y. App. Div. 2016)

172 Van Duler Realty Corp. v. Globe Alumni Student Assistance Ass’n, Inc. 24 N.Y.3d 528 (N.Y. Ct. App. 2014)

Islip U-Slip, LLC v. Jack’s of Route 23, Inc., 166 N.J. Super 36 (App. Div. 1979)

Cox v. Simon, 278 N.J. Super 419 (App. Div. 1995)

Ringwood Assocs., Ltd v. Jack’s of Route 23, Inc., 166 N.J. Super 36 (App. Div. 1979)

Caris v. Way, 192 N.J. Super 536 (Law Div. 1983)

River Road Assocs. v. Chesapeake Display and Packaging Co., Inc., 104 F.Supp.2d 418 (D.N.J. 2000)

Ultimate Computer Services, Inc. c. Baltimore Realty Co., Inc., 183 N.J. Super 144 (App. Div. 1982)

J.H. v. R&M Tegliareni, 2018 WL 1526736 (App. Div., March 29, 2018).

Jimenez v. Powell, 2018 WL 944418 (App. Div. 2018)

 

Law Offices of Kiritsis & Associates
Phone: 212 922 0005

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