Itkowitz PLLC offers a special product for commercial landlord representation, that we call "Commercial Landlord Remedies Analysis".
At the threshold of a matter involving a commercial tenant default, a commercial lease and the law typically offer a landlord many remedy options. Those options may include:
- Summary nonpayment proceeding
- Termination of the lease pursuant to a conditional limitation
- Acceleration of arrears
- Drawing down on a security deposit
- Clawing back free rent
- Enforcing the guaranty
These options, however, each come with unique pros and cons. Furthermore, whether the options are available, and if they are, the predicates to employing them, require us to do a very detailed analysis of the lease chain and the guaranty. Moreover, in some cases, a landlord might have multiple remedies available to her, but if she employs one, she forever precludes another. In other words, the decisions a commercial landlord makes at the outset of a tenant default about which remedies to employ and in what order, are important.
Therefore, for a flat rate, Itkowitz PLLC will do a Commercial Landlord Remedies Analysis ("CLaRA"). The CLaRA is a letter (or an email), and in it we:
- Review all facts, both those you present me with and those I research myself, the lease chain, and the guaranty.
- Explain the law to you in clear language and with citations to legal authority. When I work with my clients, I educate my clients. After every engagement with me, you come out knowing more for next time, so that you can, hopefully, prevent problems in the future.
- Clearly restate your goals, so that we can be sure that the client and the firm have an identical understanding of what success looks like for the client.
- Present your available options. For each option, I tell you:
- the option's pros,
- the option's cons,
- the cost,
- the time frame,
- the risks, and
- the percentage likelihood of that option achieving your goals.
- Suggest a communications plan.
- Frankly address legal fees. I often include suggestions for fee arrangements that are alternatives to hourly billing.
- Conclude with a recommendation for a course of action and a scope of work. YOU are the decision maker.
Then the Landlord's team can read the analysis, as opposed to my contact person at the client having to relay what I am saying, which is often complicated, to a whole bunch of people.
When the CLaRA is complete, we discuss it. In this fashion, the CLaRA evolves into a project charter - a roadmap for proceeding.
I charge a flat rate for the LPM Letter, $3,500, and it must be paid up front. The flat rate will be lower than what I would make if I charged you hourly, but more than you will pay to get a case stated at just about any of the other landlord and tenant firms.