Commercial leases are complex and have many different clauses that could financially impact you. The most effective approach is to consult with an attorney who focuses on real estate contracts. We will use several extra steps to review your commercial lease agreement, including:
- Review the lease terms: We look at all the terms of the lease, including the rent amount, length, use of the space, and security deposit.
- Evaluate the leasehold improvements: The lease should state what progress the landlord agrees to make. It should define the scope of the work and its timeline and identify who is responsible for improvements.
- The maintenance and repair: Details for maintenance and repair should be listed in the lease for things such as electrical, plumbing, and HVAC repairs. The lease should state both the landlord’s and tenant’s responsibilities.
- Restrictions on alterations: We review the lease to see if any rules restrict making changes or improvements to the property. Your attorney ensures that the terms and conditions are reasonable and will not impact your business’s operations.
- Assignment and subletting: The lease should discuss whether assignment or subletting is allowed and any restrictions or fees.
- Insurance and indemnification: We ensure that the lease requires the landlord and tenants to get the proper insurance coverage.
- Default and termination: Our team reviews the mechanisms for terminating or defaulting on the lease and the consequences. We search for cure periods or notice requirements from either party.
- Lease review: Your attorney will review the lease and discuss the options and whether this will work for you. Commercial leases are complex, and a skilled attorney will help you understand your responsibilities and how to protect your rights. We ensure that the lease you sign looks out for your interests.
These are some critical factors to consider when reviewing a lease. Our team thoroughly reviews your lease to understand your obligations and rights.
The attorneys at Dickson Frohlich Phillips Burgess have the knowledge, skill, and experience to review any lease. We have worked on many leases over the years and will tell you whether there are terms of the lease that should concern you and how to change them. We give you objective and prudent legal advice that looks out for your best interests.
What to Know Before Signing a Commercial Lease
It is important that you understand the terms and conditions of the lease before signing anything. Here are some things you should consider:
- The terms: The terms should be well-defined and include start and end dates and additional fees such as utilities.
- Rent: You should know the exact amount of rent that you must pay each month, including utilities and maintenance costs.
- Deposit: You want to learn about the security deposit and the conditions for its return at the end of the lease.
- Use of space: The lease should allow you to use the space for your business and should meet all zoning requirements.
- Repairs: The maintenance and repairs should be listed in the lease, and who is responsible for what.
- Improvement and Alternations: You want to know if the lease allows you to make any changes or improvements and what is permitted.
- Insurance: The lease should state whether insurance is required and who is responsible for paying the premiums.
- Assignment and subleasing: Your lease should tell you if you can rent any unused space to another tenant.
- Termination: You want to know the conditions under which the lease can be terminated and what happens in these situations.
- Renewals: The lease should clearly state the renewal options and their conditions.
We recommend reviewing and negotiating the commercial lease terms before signing anything. Leases are important legal agreements, and you want them to protect your rights while also stating your responsibilities.
Do you need a lawyer to review your commercial lease?
Commercial leases are complex, and it is advisable always to use a lawyer to review a proposed or existing lease. Here are some reasons why you need a lawyer to review your commercial lease:
- A better understanding of the terms and conditions: Commercial leases are complex and filled with legal jargon. A skilled attorney reviews the rent, insurance, taxes, maintenance, and any obligations you will have as a tenant.
- Negotiating leverage: An attorney will help you to negotiate better terms and conditions with the landlord. For example, a commercial lease lawyer may be able to get you a better deal on renewal options, terminating the lease early, and lowering the rent.
- Protecting your interests: Commercial leases are legal contracts detailing your obligations once you rent the property. Any violation of the lease could cause legal action against you. A skilled attorney will ensure that the lease protects you and that you know your obligations.
- Avoid expensive mistakes: A lease lawyer helps you avoid costly mistakes, such as doing repairs that are the landlord’s responsibility.
Why Choose Us?
The lease drafting attorneys of Dickson Frohlich Phillips Burgess have decades of experience advising clients on commercial leases. You will work with an attorney skilled in handling the most complex leases. Your attorney will review and advise you on whether your commercial lease offers the maximum protection and where it needs to be changed.
Our knowledge and experience make a difference in negotiating a commercial lease that helps your business to grow. The last thing you want is to have issues with your lease after you open at the new location. Your attorney guides you and ensures that everything goes smoothly. Contact us now to schedule your appointment with a skilled attorney about your commercial lease. Time is of the essence, and you want to get prudent legal advice before signing.