Tolerating Bad Habits can have
Consequences | NRTA Legal Corner
KM, Inc. v. Well Cleaners, Inc., 185 So. 3d 112 (La. App. 2 Circ. 2016).
Landlord and Tenant entered into a lease for commercial space in Louisiana. The Lease provided that rent was due on the 10th day of each month and that “failure strictly and promptly to enforce the conditions… shall not operate as a waiver… Lessor expressly reserves the right to always enforce payment of rent… regardless of any indulgences or extensions previously granted.” During the term, Tenant was frequently late with rent payments, which Landlord would then accept late without comment. read more
Tenant Exercised Extension Options by its Actions | NRTA Legal Corner
Norris Ave. Prof’l Bldg. P’ship v. Coordinated Health, LLC, 28 N.E.3d 296 (Ind. Ct. App. 2015).
Landlord and Tenant entered into a lease for commercial space in Indiana. The lease provided for an initial term, a first option term and a second option term, with annual rent escalation through the entire term (including the option periods). To exercise an option term, the lease required Tenant to provide written notice to Landlord at least sixty (60) days before the end of the then current term. The lease also contained a nonwaiver provision that stated a waiver (or failure to insist on strict performance) of any term of the lease by a party would not be deemed to constitute a subsequent waiver of that or any other term in the lease. read more
The Tax Act: What's In Store For Retail?
via CA Daybreaker; January 19, 2018 edition
The 2017 tax act started out as political wishful thinking—a pipe dream for those hoping to effect change. But in a blink of eye it was here, and it came with sweeping changes for taxpayers across the nation. Stepping out a victor in the fight for reform, the retail industry has a lot to gain. read more
Retail sales to grow 3% annually through 2021; store openings to outpace closures
via CSA Daybreaker, Jauary 17, 2018 edition
Retail industry sales are expected to remain on the upswing for the next several years and so are store openings. read more
Budgeting for New Lease Accounting
by Kelly Clark; Director of Marketing, CoStar Real Estate Manager
How much should companies expect ASC 842 and IFRS 16 compliance to cost?
When the FASB and IASB issued new lease accounting guidance in early 2016, companies immediately recognized that compliance would be a costly challenge. Collecting data on leased assets for balance sheet reporting would be an arduous task, by itself. Creating the impact analysis would add untold hours to weary accounting departments who have been confronting revenue recognition for some time already. Estimating the time and expenses for meeting the new standards is a dizzying project, even for the most seasoned financial leaders. read more