Opening a new business can be exciting. Finding the right property to rent
is part of the process, and you might think renting commercial property is a
simple endeavor, but it can quickly become confusing, stressful, and
complex. Therefore, you need a real estate attorney to take the mystery out
of the process and protect your interests.
Commercial leases tend to be much more complicated than residential
leases. They may also differ widely based on the industry and who
prepared them. A layman (non-attorney) may not recognize important
provisions within the lease that could affect you dramatically.
Additionally, commercial leases typically last a much longer period of time,
meaning that any mistake may stay with you longer and cost you a
significant amount of money.
Another consideration is that commercial leases are less regulated than
residential leases. Therefore, if something goes wrong, you may not be
protected. It is critical to have your real estate attorney examine the lease
before you sign.
Commercial leases are often negotiable, and you could get a better deal
with some professional help. Rent is usually based on the square footage of
the space you rent and the type of business you own. Additionally, you may
be responsible for paying some real estate taxes and maintenance items,
whereas, with a residential lease, the landlord pays those.
How a Real Estate Attorney Can Help
A real estate attorney can help you navigate the commercial lease process
much more smoothly. They can offer help in various ways, such as:
- Drafting, reviewing, and redlining a lease agreement to benefit you.
- Determining what is fair and equitable based on the market and
helping you achieve that result in your lease.
- Review contracts for accuracy.
- Filing paperwork.
- Ensuring your lease includes provisions or out clauses if something
- Helping you to understand the complexities of the lease agreement.
- Negotiate a better deal.
- Advise you on the best course of action.
- Filing legal claims if you need to go to court.
Who to Contact for Assistance?
Keep in mind the other party will most likely have a real estate attorney
representing them. If you come to the table without one, your negotiation
power may be diminished. Therefore, it’s essential to protect yourself and
have a skilled real estate lawyer by your side.
Contact Spiritus Law for more information or help with your commercial