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Timothy Smith publishes “Tips for making commercial leases recession-proof"

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Boston Business Journal
Timothy Smith, a partner in the firm’s Real Estate and Finance practice, published “Tips for making commercial leases recession-proof” in the Boston Business Journal on April 17. The article offers landlords tips on how to strengthen their lease agreements and protect themselves from defaulting tenants as the economy heads towards a recession. The tips include requiring a significant security deposit, evaluating the credit of the tenant at the outset of the lease and in a default situation, and including provisions in the lease, which impose late charges and deny certain rights to tenants that have been in monetary default. Tim also points out that strengthening your lease agreements is not just a strategy for the down times since they can become a valuable asset when the market rebounds and investors are looking for commercial properties to purchase.
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