At Hamlin Cody, we have over four decades of experience negotiating on the behalf of our clients to grant them the results they deserve. Our extensive experience has allowed us to gain insight into the best business practices when negotiating agreements on behalf of our clients, especially during a health pandemic.
Most recently, we gained a new client who was the daughter-in-law of a former client we worked with several years ago. We found it a great testament to the work we did for her father-in-law, that when she was in the need for legal counsel, she contacted our team. We worked with her to negotiate terms of rent payment with their commercial tenant because the tenant had to rearrange their business priorities due to the coronavirus.
Our client’s tenant reached out to them to give them notice that they would not be paying their rent for April, May, and June and that they would begin to pay back the missed rent in January of 2021. Unfortunately, this did not work for our client, as they were dependent on their tenant’s payment and did not give the option to temporarily forgo rent payment.
We were able to work with the tenant to logically and calmly negotiate terms to get positive results for our client. Initially we offered the client’s tenant an offer to resume their rental payments beginning in October instead of January, with an interest rate of 10%. The legal interest rate where the tenant is located, is 18% on judgments, so this was an extremely reasonable suggestion. After much discussion, our client’s tenant respectfully agreed to pay rent as scheduled as they misunderstood their options.
It is our main priority to solve problems on behalf of our clients in a calm, logical, and professional manner. We value our clients and the work that they do. We find it is important to respect them by negotiating fairly with the other parties to their contracts. We not only receive the best results when we are polite, strategic, and calm, but we also maintain successful relationships with each party involved in the negotiation.
If you own real estate and are concerned about your tenants rent payments, we have the experience to advise you through your issues. We have helped our clients throughout the Los Angeles area with a variety of real estate matters from sale and lease transactions, deeds, loans, easements, regulations, eminent domain proceedings, specific performance, boundary disputes, land use, hillside slippage, construction problems, mediation, arbitration, and litigation. Hit Reply to schedule a Get Acquainted Call.