New York City Lease Audit Litigation Attorney
Representing Landlords and Tenants in Lease Audit Disputes
In a troubled commercial real estate market, and particularly when a long-term lease was signed before the recession of 2008, business tenants have turned increasingly to lease audits as a way to document overcharges and develop other leverage against the landlord, especially in situations where the tenant could find better terms at another location.
The Price Law Firm advises and represents both landlords and tenants who need to resolve the issues identified in a tenant lease audit. Contact us in Manhattan to learn more about your options for protecting your interests both in a lease audit investigation and in the renegotiation or litigation that very often follows. Call (212) 675-1125 for a free consultation.
Tenants typically initiate lease audits performed by private consultants as a way of building the case for rent or common-area maintenance (CAM) refunds or as leverage for renegotiated lease terms. As an experienced real estate litigation attorney, Joshua Price knows how to interpret the evidence turned up in the audit. He also knows how to integrate litigation defense strategy with the development of a negotiation stance that accurately reflects a landlord’s interest in protecting the lease or in moving on to another tenant.
Overcharges identified in a lease audit report can include:
Errors in the calculation of square footage, parking spaces and other amenities
Property tax overcharges
Miscalculation of CAM charges
Miscalculation of expenses for insurance, utilities and other charges billed through the owner
Commercial tenants can also use lease audit findings to buttress claims against the landlord for breach of such non-financial commitments as keeping an anchor tenant in a shopping mall or a major professional firm as a tenant in an office building. When a small business can trace a loss of revenue to the departure of such a tenant, it will often be inclined to renegotiate terms that reflect the decreased value of the lease.
Manhattan Commercial Lease Audit Lawyer
The landlord has its own cards to play in lease audit litigation. Many owners obtain annual waiver letters that document the tenant’s acknowledgement that rents and charges billed in the prior year were accurate, and that the landlord has satisfied its other obligations under the lease. Depending on market considerations and the trend of rents in the area, the landlord might also explore its various options for termination, eviction or nonrenewal under the facts of the given case.
For further information about the different factors that must be considered when tenants seek refunds from landlords, contact an experienced New York lease audit litigation attorney at The Price Law Firm in Manhattan. Call (212) 675-1125 for a free consultation.