Rent_Lease

Important Issues to Consider Before Entering into a Commercial Sublease

A properly structured sublease can be a prudent strategy in a commercial lease transaction. However, if poorly drafted, a sublease can unnecessarily expose all three parties (the landlord, tenant and subtenant) to unforeseen liabilities and risks. Continue reading »

Possible Expansion of Responsible Parties Under the MTCA

Washington State’s Model Toxics Control Act Washington State’s Model Toxics Control Act (“MTCA”), the state’s counterpart to the federal Superfund law, also known as the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”), provides that current and former property owners or operators of contaminated property are potentially liable persons for the release or disposal of hazardous substances. An “owner or … Continue reading »

New Seattle Housing Ordinance: “First-In-Time” Applicant Policy – Update

The Seattle City Council has passed a new housing ordinance, which requires residential landlords to screen rental applications in chronological order and award the lease to the first eligible applicant. Failure to abide by the “first-in-time” policy can be deemed an “Unfair Housing Practice” for which offending landlords would be liable. This ordinance went into effect January 1, 2017. The “first-in-time” requirement … Continue reading »

My LLC is Manager-Managed – Does it Matter?

Given its flexibility regarding structure and tax treatment, limited liability companies (LLC’s) remain one of the most popular entity types in the State of Washington for real estate and business ventures.  When forming a new LLC, or purchasing interests in an existing LLC, you will be faced with whether the LLC is or will be manager-managed or member-managed.  This is … Continue reading »

Rent_Lease

What is an SNDA and Why is it Important?

A Subordination, Non-Disturbance and Attornment Agreement (an “SNDA”) is often an underappreciated but extremely important document in a commercial lease transaction.  An SNDA is an agreement among a lender, its borrower (the landlord), and the tenant, detailing the rights of the parties in the event the landlord defaults on the loan and the lender forecloses and becomes the property owner/landlord. … Continue reading »

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