Commercial Landlords & Commercial Tenants in California need to read..

By
Real Estate Agent with Berkshire Hathaway HomeServices 01238708
https://activerain.com/droplet/5hdC

Commercial Landlords & Commercial Tenants in California need to read and comply!

Assembly Bill 2847 quietly went into effect on January 1st 2019, many Commercial Landlords  & Tenants were not even aware.

www.endrebarath.com

The existing law provides, that real property will be deemed 'abandoned by a lessee' and the lease shall terminate if the lessor gives 'notice of belief of abandonment'. 'The notice of belief of abandonment' can be given only where a rent not the property has been due and unpaid for at least 14 consecutive days and the lessor reasonably believes that the lessee has abandoned the property. Existing law authorized a 'notice of belief of abandonment' to be served personally or mailed.

The new law creates a different set of rules for Commercial Real Property by authorizing the Notice of Belief of Abandonment to be given where rent on the property has been due and unpaid for at least the number of days required for the lessor to declare a rent default under the terms of the leaser, but under no circumstances less than three days.

The new Law also authorizes the "Notice of Belief of Abandonment of Commerciala Real PRoperty to be sent by an overnight courier service.

Now with that said yes you guessed it: a new statutory form has been created for a commercial property 'notice of belief of abandonment'.

Hence if you are a Commercial landlord or a  Commercial tenant in California you need to be aware.

www.endrebarath.com

Now if you are considering proper representation by someone who is keeping up with the ever changing laws of the Commercial Real Estate landscape please reach out to me directly for representation. 

If you are looking for a knowledgeable, focused and goal-oriented Realtor in the Beverly Hills area who will help you achieve your Real Estate goals, please reach out to me directly!

If you are looking for a pet friendly Beverly Hills Realtor who can handle and sell the most difficult properties that no one else could, please reach out to me directly!! If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 (m) or homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com  I contribute a portion of my commission to local animal rescue organizations.

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Rainmaker
2,818,941
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Good morning, Endre... have you ever noticed how many of these kinds of bills are passed without people noticing it?

Feb 10, 2019 03:32 AM #1
Rainmaker
2,716,453
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Endre.

So many new laws are passed every year, that the vast majority of people are unaware of. I'm sure this one will raise some eyebrows once the word gets out

Feb 10, 2019 04:04 AM #2
Rainmaker
3,031,145
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Endre. Just when you thought you had a handle on it, they change the rules. So be it! Enjoy your day!

Feb 10, 2019 06:15 AM #3
Rainmaker
714,446
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

That seems a big change in landlords favour, allowing landlords a big stick over tenants. I guess it will create better communication from tenants to landlords when they run into cashflow problems.

Feb 10, 2019 06:35 AM #4
Rainmaker
4,756,853
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good information for those in commercial real estate, Endre.  I wonder how this will change things if at all?

Feb 10, 2019 06:36 AM #5
Rainmaker
3,047,093
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina Hollander  indeed it is amazing, I will be writing a follow up post to this one because another Assembly Bill was alos passed which effects the Disposal of Tenant's Personal Property...Endre

Feb 10, 2019 10:31 AM #6
Rainmaker
3,047,093
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

James Dray  indeed it is amazing and one can just shake ones head, Endre

Feb 10, 2019 10:32 AM #7
Rainmaker
3,047,093
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Wayne Martin  yes when the Government sticks their nose into our profession:)Endre

Feb 10, 2019 10:55 AM #8
Rainmaker
1,897,140
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Endre Barath, Jr. - As you know, it's always something and that something always leads to more paperwork. 

I do think 14 days is a rather short timeframe. There could be a legitimate reason for the tenant, i.e., had to leave town for a family emergency, a person may be in the hospital, etc. It will be interesting, no matter what. 

Feb 10, 2019 04:48 PM #9
Rainmaker
3,047,093
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nick Vandekar, 610-203-4543   yes it is all about communication and sadly many do not do that....Endre

Feb 10, 2019 04:51 PM #10
Rainmaker
3,047,093
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Gabe Sanders  just causes one more step for Landlords to do if things are not going well...Endre

Feb 10, 2019 04:52 PM #11
Rainmaker
3,047,093
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina Hollander  you had me laughing sorry for the boring post, well there will be one more about this subject, soon, Endre

Feb 10, 2019 04:53 PM #12
Rainmaker
3,047,093
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Patricia Feager, MBA, CRS, GRI,MRP  indeed more paperwork...Endre

Feb 10, 2019 04:54 PM #13
Rainmaker
1,755,292
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good evening Endre - as a business owner it becomes a fulltime job to keep up with all of these changes in laws.

Feb 10, 2019 06:55 PM #14
Ambassador
3,012,447
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Well, of COURSE there's a form for that! Yet another subject that those who are actually impacted by government interference, are unaware of! 

Feb 10, 2019 08:22 PM #15
Rainmaker
3,047,093
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Grant Schneider  you said it better than I could have written:) Endre

Feb 10, 2019 08:32 PM #16
Rainmaker
3,047,093
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Debe Maxwell, CRS  indeed if it was not for us the word would be discovered the hard way:) it amazes me how the rules quietly go in effect in this case it went into effect on January 1st, 2019, Endre

Feb 10, 2019 08:33 PM #17
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Rainmaker
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Endre Barath, Jr.

Realtor - Los Angeles Home Sales 310.486.1002
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