As any commercial landlord knows, litigating commercial real estate disputes can be costly, both in terms of dollars and reputation. Disputes can also lead to lost rent if an angry tenant leaves.
For these and other reasons, many commercial landlords are turning to mediation as a way to hopefully resolve disputes in an amicable manner.
What is mediation?
Mediation is a process in which a neutral mediator facilitates negotiations between parties with the ultimate goal of reaching a settlement. The mediator has specialized training in helping parties find common ground and explore ways to resolve disputes.
The mediator does not decide any issues for the parties. Rather, the mediator helps parties reach mutually agreeable settlements.
Why meditate commercial real estate disputes?
Mediation offers multiple potential advantages over litigating issues in court.
Settlement through mediation is often significantly cheaper and faster than litigation.
Resolution through mediation also offers a far greater potential of reaching long-term settlement that enables the parties to maintain a landlord-tenant relationship. This avoids potential vacancies while allowing the tenant to avoid the expense of moving to a new location.
Assistance with real estate disputes
If you are a commercial landlord or tenant involved in a dispute, you should consult an experienced real estate attorney for assistance in addressing the dispute.
An attorney can advise on whether mediation is an appropriate process for your dispute.
If you do mediate your disputes, an attorney can analyze the impact of any proposed settlement and, if the parties cannot settle, be prepared to litigate the dispute.