Lasse van Waegeningh is our commercial real estate specialist.
Partly because Dutch law has different rules for different commercial properties, rental law is a ‘separate branch of sport’ that has its own peculiarities. In addition, there is (and will continue to be) a great deal of case law in the area of rental law that further colours the existing legislation. Rental law is therefore subject to constant change.
For almost all aspects concerning the establishment of rental agreements as well as their execution and termination, it is important that you know what the legal (im)possibilities are and that you can act accordingly.
The sale or purchase of commercial real estate usually involves major interests. These interests must be safeguarded as fully, properly and inviolably as possible. To avoid a situation where there may be ‘no way back’ against your will, it is imperative that you can take the right follow-up steps from the earliest stages of a (potential) transaction without any risks.
Unfortunately, before or after the transfer of ownership it may happen that you fail to meet your obligations under a sales contract or that you can hold the other party responsible for a shortcoming. In order to maximally secure your legal position in such situations, it is necessary to act in a timely, clear and legally correct manner.
OWNERSHIP AND OPERATION
As an owner or operator of commercial property, you may find yourself confronted with claims relating to such ownership, management or operation (including within an Owners’ Association). Such claims may relate, for example, to the way in which the property is managed – by a manager or otherwise – or to rights that can be exercised against the owner/operator, to nuisance, to pollution or to property boundaries. Because the consequences of such claims can be far-reaching, you should be able to make a clear assessment of the good and bad chances of such claims.
In a customary (re)financing of commercial real estate, the (future) owner borrows a sum of money to pay off an existing financing of his real estate or to finance the acquisition of the real estate.
It is very important for both the borrowing party and the lending party that a thorough investigation is made of all relevant aspects of the property concerned. This due diligence also looks at important legal aspects, such as the existing or future ownership and use of the property concerned, compliance with laws and regulations, insurance aspects and current or impending disputes regarding the property. Should any important, negative issues emerge, they should be identified as early as possible and dealt with energetically. After all, a positive assessment of the property is crucial for a financing transaction.