California Attorney and Real Estate Broker Chris Adishian answers the question, “How do attorney’s fees work in contract?” at the South Bay Association of Realtors Commercial Attorney Panel on June 2, 2015.

Transcript

Touching on the attorney’s fees part, I’ll do a little plug for our blog on our website. We have a great article about attorney’s fees in real estate contracts, and attorney’s fees and contracts in general. One of the special provisions of California law is that there are no one-way attorney’s fees. It’s always mutual. The article’s pretty comprehensive, but attorney’s fees aren’t always the blessing you think they might be. Sometimes they’re a curse. So you have to think tactically with each contract as to whether or not you want to agree to attorney’s fees, put a cap on attorney’s fees, or eliminate attorney’s fees.

Property management is a necessity for every property owner.  Property management may be done by the owner or by a professional third party property management company.  California Attorney and Real Estate Broker Chris Adishian answers the question, “Is it a good idea for a property owner to to self-manage their properties?” at the South Bay Association of Realtors Commercial Attorney Panel on June 2, 2015.

Transcript

The question of “Can the owner self-manage?” I would say if you buy a new building, and it’s empty, you could go down that road. Put up “for lease” and try to save commissions, but I don’t recommend it. Get a good agent on your team. Someone who knows the neighborhood, knows the product type, knows the type of tenant you’re striving to get, and let him and her or that firm go out and present options to you.

It’s worth the money, especially if you’re not in the real estate business as the owner except for owning the property. You don’t have the databases, the networks, the marketing power, or the skillset to properly tenant your building.

What you should be doing is building your team and then reviewing the potential tenants with your team before saying yes or no.

Security deposits in real estate transactions are often overlooked until the last minute.  On larger buildings however, security deposits in real estate transactions can often be tens of thousands or hundreds of thousands of dollars.

Here, California Attorney and Real Estate Broker Chris Adishian answers the question, “When buying a multi-unit property do the security deposits transfer from Seller to Buyer?” at the South Bay Association of Realtors Commercial Attorney Panel on June 2, 2015.

Transcript

This is one of those issues. It’s not a big issue, but it’s a frequent issue. And it’s one of those issues at the margin in a transaction.

Say you’re going to buy a nine or ten unit building, you’ve negotiated all the deal points, you’re into escrow, and all of a sudden you’re like, “All the tenants paid security deposits, where are those?” It might swing 30 to 100,000 to one side of the table or the other.

So, I think the answer to the question is, it’s a negotiating point, but make sure that you do negotiate it and you factor it into your offer of your purchase price. And again, depending on the dollar amount, depending on the nature of the parties, once the transaction closes, even if you were supposed to get the security deposits but you didn’t focus on it and make sure they crossed the table – well now you have a claim. Okay, well then what’s it going to take to enforce that claim?

Probably not a huge percentage of the deal, but then again you’d rather have the money than not have the money. And you don’t want to get into a situation where you’ve made an offer presuming you’re going to get the security deposits, only to find that the seller’s going to keep them. So it’s sort of a fine point in negotiating a sale.

EL SEGUNDO, CA (November 9, 2015)— Adishian Law Group is pleased to announce that attorney Chris Adishian was profiled in the current issue of Southbay Magazine.

2015_SB_Cover
Southbay Magazine (November 2015)

As the magazine states, “Behind every successful individual and company, you’ll likely find a trusted advisor-or a team of them. Professional experts inform you about your options, help you explore new ideas and discover solutions, and work with you to navigate the road ahead. It’s essential to select a proficient team of trusted advisors when making decisions that impact you, your business, your home and your family….”

Adishian Law Group practices corporate, real estate and employment law. Their work includes leading mission-critical transactions and litigation, and high-stakes employment cases involving highly compensated professionals. Their affiliated property management firm, Adishian Capital, provides ‘family office’ real estate capabilities, giving clients relationship continuity across all their real estate activities. Owner Chris Adishian, raised in Palos Verdes, started the firm in 2003.

Chris Adishian

Chris Adishian, Founder
Adishian Law Group, PC
Adishian Capital
Tell us a client success story.

“It was a typical Friday afternoon when we got the call: our soon-to-be client had filed an Equal Employment Opportunity Commission (EEOC) complaint alleging wrongful termination, was scheduled for Mediation in just five days and had no attorney! The employer was a huge, privately held software company represented by one of the world’s largest law firms. Our staff worked all weekend building the case using our software tools and drafting the mediation brief. At mediation, all parties began relying on our work product and timeline of events to evaluate the case. The mediation concluded with our client receiving a very favorable settlement (after having been terminated with zero compensation). More stories are available on our blog.”

What question or concern do you frequently hear from clients?

“From business owners: ‘Can you review/negotiate this contract for me?’ or ‘I’ve been sued by a former employee.’ or ‘An employee went out on leave. What do I do?’ or ‘How do I prevent myself from being sued?’ or ‘I’m ready to sell my business.’ From executives and professionals: ‘I’ve been wrongfully terminated/ discriminated against.’ or ‘I’m owed a lot of money.’ From real estate clients: ‘My tenant (commercial) has sued me.’ or ‘We want to buy this building.’ or ‘How do we (re)negotiate our lease?’ or ‘Can you manage our properties so we can focus on our business?’”

FAST FACT

Prior to starting his law firm, Chris worked at Arthur Andersen and Montgomery Securities in San Francisco.

Tell us something unique about your business.

“For clients active in real estate – owning, buying, selling, leasing or exchanging –our combination of a real estate law firm with an affiliated property management firm is unique.”

How do you advise your clients to achieve and maintain success?

“Our clients are already successful – they are proven leaders in their industries and professions. They are proactive, smart, kind, risk-takers and survivors. We’re privileged to be selected as their law firm.”

Click these links to read the profile on oursouthbay.com and to view the full-color original.

What happens at the end of the lease?  At the end of the does the tenant move out automatically?  What if the tenant does not move out at the end of the lease?  California Attorney and Real Estate Broker Chris Adishian answers the question, “If the lease ends, doesn’t the tenant have to move out?” at the South Bay Association of Realtors Commercial Attorney Panel on June 2, 2015.

Transcript

One, the gentleman back there said, “Well, what if the term of the lease has ended?” And, that’s sort of the distinction in our society and our system of justice between your contractual right and what you need to do to actually enforce this contract. There’s the contract, and then there’s enforcement. So that’s one distinction I wanted to call your attention to. You may have all the rights in the world, but you still need to enforce them – and that enforcement involves costs and time and risk.