It is in both parties' interest to agree on a carefully drafted definition of the term "real estate taxes." Landlords will usually want to treat such taxes in the broadest possible manner, so that the term includes every type of tax and assessment, regardless of the agency or entity which levies the tax. That is because anything which falls outside of this definition will have to be fully paid by the landlord. In general, the definition of that term will include all forms or types of assessments against the property, with the exception of those arising from improvements made to the property, or which would be considered, from a tax standpoint, capital improvements to the premises.
In this 6-minute video our speaker, Marc. H. Goldsmith, reviews management or administration fees that should not be based on a percentage of specific charges. He also discusses what landlords may want to include in their calculations.
Marc H. Goldsmith, Counsel with McGuireWoods LLP’s Los Angeles, CA office. His practice focuses on commercial leasing and commercial real property purchase and sale transactions, as well as condominium law. He is responsible for negotiating, drafting and reviewing various real estate contracts for retail, office and industrial uses, including leases, purchase/sale agreements, easements, licenses, deeds of trust, subordination agreements, and amendments. Mr. Goldsmith serves as general corporate counsel to numerous nonprofit homeowners associations, business and mixed-use condominium associations, timeshare associations, and for profit entities.
Agenda
Faculty
Marc H. Goldsmith
The Law Offices of Marc H. Goldsmith
- Counsel with McGuireWoods LLP’s Los Angeles, CA office
- Practice focuses on commercial leasing and commercial real property purchase and sale transactions, as well as condominium law
- Responsible for negotiating, drafting and reviewing various real estate contracts for retail, office and industrial uses, including leases, purchase/sale agreements, easements, licenses, deeds of trust, subordination agreements, and amendments
- On behalf of national retailers, he has negotiated and closed many retail lease transactions for stores of all sizes
- Handled hundreds of leases, licenses and easements for telecommunications sites throughout the western United States
- Serves as general corporate counsel to numerous nonprofit homeowners associations, business and mixed-use condominium associations, timeshare associations, and for profit entities
- Can be contacted at [email protected]
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