Can a New Jersey commercial property lease agreement allow for CAM and tax expenses to be proportionally shared, between lessors and lessees.

Jul 8, 2021

Kiritsis Law Group. Phone: 212 922 0005
By: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M

 

Yes, though how CAM and tax expenses may be shared varies among local legal practices. Unlike with residential leases, case laws are more pronounced with commercial leases. A party that fails to properly plan a commercial lease will waste much time reviewing and negotiate the lease later on.

 

Under unique or exceptional circumstances, it may be better for parties to enter into an oral lease. New Jersey real property law does NOT include personal property.

Depending on the situation, it may be the case, that commercial and residential landlords, may be subjectable to reporting rent roll receipt figures, in some way, shape and/or form.  Whether or not a New Jersey real property owner is subject to that requirement, could extenuate other issues, as it pertains to the points raised by this legal-guide article's title.

 

The practical restraints brought on to the operations of the New Jersey Judiciary System by the Coronavirus-related shutdowns, may have made much of the substance of this brief analysis, an incomplete and/or incorrect generalized explanation, of what is an already heavily technical and complicated topical area, within the study of jurisprudence.

 

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 contract agreements.

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Commercial lease agreements.

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Office space use lease contract agreements. 

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Gross lease agreements. Kiritsis & Associates (212)–922–005.   

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Single net lease agreements. 

Double net lease contract agreements. 

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Commercial leases with time extension option provisions.

Real property lease agreements. 

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Cancellation of residential lease contract agreements. 

Cancellation of commercial lease agreements. Kiritsis & Associates (212)–922–005.   

Barbershop and beautician related lease contract agreements. 

Gas station and related use lease agreements. 

Restaurant and related use lease contract agreements. 

Food establishment and related use lease agreements. 

Livestock related use lease contract agreements. 

Poultry related use lease agreements. 

Timber related use lease contract agreements. 

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Buffet-style restaurant use lease agreements. Kiritsis & Associates (212)–922–005.   

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Florist, botanical, and horticulture use lease contract agreements. 

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Hypothecating, equity-utilization, leveraging lease contract agreements. 

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Lease 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

Hudson

Hunterdon

Mercer

Middlesex

Monmouth

Morris

Ocean

Passaic

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.

 

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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.

 

For more information, you may want to look up the following source materials:

 

New Jersey State Constitution

New Jersey Eviction Statutes Act

New Jersey Board of Bar Association

American Bar Association 

Truth in Renting Act

Sailor and Soldiers Civil Relief Act

New Jersey Department of Community Affairs

Seton Hall University School of Law

New Jersey Law Journal

New Jersey Institute of Continuing Legal Education

New Jersey Revised Uniform Limited Liability Company Law

New Jersey Secretary of State

New Jersey Judiciary -- Superior Court

 

Berzito v. Gambino, 63 N.J. 460 (1973)

Marini v. Ireland, 56 N.J. 130 (1970)

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

Onderdonk v. Presbyterian Homes of NJ, 85 N.J. 171 (1961)

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

Schultz v. Kneidl, 56 N.J. Super 575 (L&W Div. 1959), Id. 59 N.J. Super 382 (App. Div. 1960)

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

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

McBride v. Port Auth. of N.Y. and N.J., 295 N.J. Super 521, 685 A.2d 320 (App. Div. 1996)

Berg Agency v. Sleepworld–Willingboro, Inc., 136 N.J. Super 369 (App. Div. 1975)

Perlman v. Lee, 2014 WL 4916999 (App. Div. 2014)

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)

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

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

 

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