Drafting or Changing a Lease
Motel leases have a fixed term and their value is tied to the length remaining on that term.
Landlords and tenants may have different motivations. A tenant wants their motel lease to have the longest possible term available, and be structured in the most flexible way when it comes to option periods.
For a landlord the motivations may be somewhat different, but term is also important. The term of a lease is important when it comes to the capital value of a motel property as the continuity of the rental income for the property is derived from the term of the lease.
Other issues may arise from time to time that means the lease may need changing. We can help with those too.
We help both landlords and tenants negotiate these very important issues.
Payment for the variation of a motel lease for the additional term is not uncommon. Negotiating this is very important.
These things sound simple, but they quite often aren’t. You want to make sure you have the right advice when you are dealing with your landlord or tenant to secure the investment you have made.