• Posts by Nathan R. Crown
    Associate

    Nate Crown practices in the firm's Real Estate Group. Although Nate’s experience covers the full spectrum of commercial real estate transactions (from acquisitions/dispositions to financing to development), his practice ...

On April 1, 2020, Governor Mike DeWine signed Executive Order 2020-08D, which contains certain “requests” of commercial mortgage lenders and landlords with small business commercial tenants located in Ohio.

While the health and safety of the US populace is of primary concern, the economic and legal implications of COVID-19 have already proven to be significant, particularly in the commercial real estate context. Mandated closures have left landlords and tenants concerned about the enforceability of lease obligations (especially with respect to the obligation to pay rent); purchasers and sellers concerned about meeting the timelines set forth in contracts of purchase and sale and the logistics of closing; borrowers and lenders concerned about the fulfillment of loan obligations; ...

In January, Cincinnati City Council passed legislation imposing restrictions on residential landlords’ right to collect security deposits from their tenants. Specifically, the ordinance amends Chapter 871 of the Cincinnati Municipal Code to require that certain residential landlords give their tenants alternatives to the traditional security deposit (a payment equal to one month’s rent, due at lease signing). Those alternatives include (1) rental security insurance, (2) a reduced security deposit (no more than 50% of the monthly rent), and (3) payment of the full security deposit, but split-up into at least six smaller, monthly installments.

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