When a property produces income, a taking reaches the income as well as the land. Leases complicate who claims what.
On a leased property both the owner and the tenant may hold interests affected by a taking. What each may claim depends on the lease and on the facts.
A taking that reduces parking, access or usable area can reduce achievable rent, which is a value question distinct from the land acquired.
What the lease says about a taking.
ExploreTenant interestsWhere an occupier holds a compensable interest.
ExploreRent and vacancyHow the taking affects achievable income.
ExploreParking and accessFrequently the driver of tenant value.
ExploreResidue valueThe income producing capacity that remains.
ExploreTemporary disruptionConstruction period effects on occupancy.
ExploreCondemnation, abatement and termination provisions.
Rent roll, occupancy and history.
What the residue can achieve.
Where occupiers are separately affected.
Income capacity lost is a value question.
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