Property management companies need to be aware of the potential areas of risk and exposure in the typical elevator maintenance contract. In general, these contracts renew automatically at the end of each term and there may be little opportunity to renegotiate the contract once it is signed. However, these are often not contracts of adhesion,…
Construction surety bonds are securities issued by an insurer that guarantee financially that a construction company will perform their duties or pay a penalty to the contracting entity. The construction company, which could be a general contractor or subcontractor, is called the principal. The contracting entity, often a government or large corporation, is called the…
A Florida homeowners’ association (HOA) consists of homeowners from a particular geographic area who oversee the rules and regulations regarding what goes on in the community in which they live. HOAs arrange for maintenance of the common areas and they govern the community according to provisions and legal clauses in their bylaws and articles of…
Working closely with a product liability law partner helps you to manage the risks associated with consumer demands and claims against your business. This is true whether you are introducing a new product to the market or managing distribution for a product with a well-established market presence. The product life cycle begins during the research…
In contract law, a breach takes place whenever one of the parties to a contract fails in fulfilling its obligation or obligations as described in the contract. A breach is said to have taken place whether this failure took place partially or wholly. The breaching party might also have communicated an intent to fail the…
Most investors form LLC’s when they invest in Florida Properties. Here are the pros and cons of choosing an LLC as an investment vehicle compared to other company formation types: Advantages Provides liability protection to property owners Provides tax flexibility to property owners Avoids the administrative burden of other company types Avoids administrative costs Disadvantages…
As stated in Part I of this series in which we discussed finding the right advisors for non-resident alien investors, the State of Florida is a wonderland of real estate investment opportunities. With hundreds of major cities and suburbs to choose from, commercial and residential properties waiting for the right investor abound. However, there are…
The State of Florida is a wonderland of real estate investment opportunities for non-resident alien investors. With hundreds of major cities and suburbs to choose from, commercial and residential properties waiting for the right investor abound. However, there are many pitfalls to avoid when investing in property in Florida – and these pitfalls are particularly…
For most people, real estate accounts for larger sums of money paid out on a monthly basis than all other expenses and liabilities. Adding in the four and five-digit lump sums paid as mortgage down payments and rental deposits and it is easy to see why criminals and unscrupulous businesses often target real estate transactions….
As the economic impacts brought on by the COVID-19 pandemic continue, there has been a reduction in businesses and residential tenants’ who are able to pay their rent. As a result, businesses and residential tenants are resorting to property abandonment, “walking away” from their leases’ financial obligations. This has been especially true in commercial real…
SUSCRIBE
Sign up for News and Insights from South Florida Law
This will close in 0 seconds