Florida’s Statutory Rate on Final Judgments and Their Impact on ROI for Asset and Loan Portfolio Managers

When a Final Judgment is entered, it typically reflects a financial equation consisting of the principal, delinquent interest, late charges, legal fees, court costs, and…the additional interest due a lender to get them up to the default rate they are entitled to. In Florida, on most commercial loans, that default rate is 18%. However, when a Final Judgment is entered in Florida, lenders are only entitled to collect Read More

What Asset Managers Should be Doing During the Eviction Moratorium

Hours after his inauguration, President Biden issued an executive order extending the eviction moratorium until March 31. The current moratorium had been put into effect by the Center for Disease Control and Prevention in September 2020 to prevent the further spread of COVID-19.  The last day the moratorium, designed to stop renters from being evicted for non-payment of rent, was set to end December 31st, 2020.  It Read More

What Asset Managers Nationwide (with Florida Commercial Real Estate in their Portfolios) Will Need to Confront in 2021 – Filing Foreclosures

As a commercial asset or loan portfolio manager, private lender, or loan investor with oversight over Florida commercial real estate, one of the last things you want to see, hear, or watch happen is  2020 bleed into 2021 and, with it, the continuing non-performance of your Florida commercial real estate assets.  The 2020 forbearances were a gesture designed to deal with the economic reality of the pandemic and seek a Read More

What Commercial Landlords Need to Know About the Appeals Process in an Eviction Case

As a commercial landlord, one of the last things you want to happen to one of your properties is to have to evict a tenant. If you have a tenant who is not paying their monthly rent, or has violated their contract in some other way, going through the eviction process may be the only option. When things have reached this point, you undoubtedly want everything to move forward as quickly as possible so you can begin the Read More

Commercial Foreclosures in Florida: A Judicial Process With Practical Considerations

The commercial foreclosure process in Florida is a “judicial” process.  That means a lender must file a lawsuit against the borrower in order to obtain a foreclosure judgment from a court ordering a sale of the property to recover their loan monies.  The process contains unique aspects, nuances, and components which are grounded in well-tested experience that well serves a plaintiff.  That said, the fundamentals Read More

4 Mistakes to Avoid in a Commercial Eviction

When you’ve rented out your retail space, office building, or other commercial location and the tenant breaches the terms of the lease, in most cases you have the right to evict them. However, if you’ve never done a commercial eviction before or you’re extremely frustrated by how the tenant’s actions have affected your cash flow, your attempts to remove them from the property can potentially make matters worse. In Read More

Buying Commercial Real Estate in a Post-Pandemic World

It only took weeks for our lives to change in ways we could never have imagined. People could no longer shop and socialize without wearing a mask and keeping each other at a distance. A lot of nonessential businesses closed, only to reopen gradually and under the condition that they observe strict safety guidelines. Offices transitioned their workforces online and home delivery replaced eating out at Read More

New Florida Law Came into effect July 1, 2020 called the “Uniform Commercial Real Estate Receivership Act” – Serves to Streamline Receivership Process to Protect and Preserve Value

A new Florida law came into effect July 1, 2020 called the Uniform Commercial Real Estate Receivership Act (“Act”).  (It’s part of the new Chapter 714 of the Florida Statutes.)  The Act codifies case law relating to the right to have a receiver appointed by the court in commercial foreclosure actions.  The intent is to provide clarity, predictability, and uniformity on the standard for the appointment of a receiver Read More

How to Protect Yourself When Your Business is Struggling Because of the Pandemic

Almost every business under the sun has been impacted by the coronavirus pandemic. Countless businesses have already closed their doors permanently after suffering losses they simply couldn’t overcome. Other business owners are struggling to find creative solutions to their problems so they can keep moving forward. The extent to which you are struggling will vary greatly based on factors like the size of your Read More

What Continuation of the Florida Moratorium on Evictions and Foreclosures Will Mean for Landlords, Lenders, Asset Managers and Investors

As you may have heard, the moratorium on evictions and foreclosures in Florida – set to expire August 1st. – has again been extended to September 1st.  (It is the 3rd extension of the initial Executive Order.)  Its’ purpose is to help prevent those who may have been out of work due to coronavirus from becoming homeless.  Unfortunately, an added side effect of the moratorium is that many landlords, lenders, asset Read More