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About Jim Avancena
Expertise
I am best qualified to answer any questions that involve commercial leases, the complexities and inter-relationships of the myriad provisions that a lease may contain, and explain how they commonly effect a landlord or tenant in their day-to-day business operation. I can explain most matters that will come up during of the full lease cycle from standard industry practices regarding the lease acquistion process, concerns related to remodeling/improving the leased premises, moving-in, subletting or assigning the leased space, and a long list of other problems that may come up during the lease term. I have practical experience with most property management issues and resolving landlord and tenant disputes. Note that I am not an attorney and cannot provide legal advice.
Experience
Twenty-eight years active experience in the commercial real estate industry as a licensed real estate broker in the Washington DC Metro area(DC, Northern Virginia & Maryland). I have been admitted (approved) by the Maryland and DC courts to testify as an expert witness on the subjects of Commercial Leasing and Property Management in the area of standard industry practices. I have had a business for the last 14 years advising virtually every form of business entity from large national corporations to the smallest ma & pa new businesses regarding a wide range of commercial real estate matters in addition to property management and commercial leasing.
Organizations
Currently my three children keep me so busy that it is difficult to find time to participate in organizations.
Publications
I publish a local commercial real estate newsletter titled: "Tenants First". My firm was the subject of a high profile Washington Post business section cover page (2.25 page)feature story on January 13, 1993; "Overcharging Overhead".
Education/Credentials
BA in Political Science from Memphis University, and five years of study in the real estate development summer program at MIT. I was certified as a commercial property manager (CPM-IREM), and currently hold a brokers license licensed in Maryland and the District of Columbia.
Awards and Honors
Routine, the same plaques and honors that most others in my industry have earned, none that are significant.
Past/Present Clients
Past clients include: The World Bank, George Washington University, National Association of Criminal Defense Attorneys, US Department of Commerce, The American Benefits Council, K-Mart Development, many law firms, a national union, other major organizations, and many, many small business firms and retail operators that I am most honored to serve. I estimate more than 1,500 firms/organizations.
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You are here: Experts > Real Estate > Commercial Real Estate > Commercial Real Estate Investment > Late fees on Commercial Leases
Expert: Jim Avancena - 10/30/2009
Question
QUESTION: Hello Mr. Avacena,
My parents have a commercial property in Washington DC and I was curious to know if there was some sort of a guideline document summarizing or informing landlords and tenants of commercial properties of their respective obligations. I have seen a similar document for residential L%26T (s) but not on commercial ones. I need to be educated on current laws as I am in the process of taking over my parents' business. Is there a limit to the late fees a landlord can charge on a commercial lease?
Thank you kindly for your time and assistance.
Sincerely,
Deb
ANSWER: Deb-
You should check the website for the District of Columbia Government as they have several departments that deal with various aspects related to owning commercial property in the city.
They have several types of written materials; some in handbook form but directed to tenants, that will help you with the questions you have.
The District Government web site is actually very informative in this regard, I think you will be surprised.
Good luck.
-Jim
---------- FOLLOW-UP ----------
QUESTION: Dear Jim,
Thank you for your reply; the reason I posted to this website was because I had already exhausted that route. I have spent a considerable amount of time on the website looking for this information, and over 3 hours with DC long distance trying to get information specifically related to commercial landlord obligations, etc. Unfortunately, while the website is indeed very helpful in providing information to tenants, it is mostly directed toward residential properties. The only thing I was able to confirm after that period of time on the phone, was that there was no document akin to the L%26T guideline for residential properties, and that commercial is contractual. I had hoped that with your expertise, you might have been able to answer the question regarding the late fees on commercial leases. Thus far the only information I have found is on residential and it has been my experience, that the regulations for one are not always applicable to the other. (i.e. commercial leases do not require 30-day notice to pay or quit as residential does.) If you can answer the question, I would be very appreciative.
Kind regards,
Debora
Answer
Debora-
I do no residential work whatsoever and I am unfamiliar with the "L%26T Guideline" for residential property.
In the District most commercial landlords charge a five percent (5%) late fee. I am not an attorney, however I do not believe there is a limit on commercial late fees, except that a tenant may legally challenge a landlord's late fee as excessive and the landlord will be required to demonstrate to the court that the fee it has assessed the tenant is reasonable and justifiable given the specific damages incurred.
You should confirm this with an attorney in the District of Columbia.
-Jim
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