Should You Have a Lawyer Review Your Commercial Lease?
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A commercial lease is complicated, and there are many issues that need to be addressed. To make sure you are legally protected, you should have a commercial real estate attorney assist you with the negotiations and review of your commercial lease. The attorney’s expertise in landlord/tenant disputes and leases can help avoid potential problems that may arise by recommending additional clauses that should be added to the lease and clarifying ambiguous language. The parties should thoroughly understand the lease terms before they enter into the lease. Why take a risk of signing something that you are not completely informed about to save money? An attorney can explain the lease provisions, and answer your questions. It’s well worth your peace of mind to have an attorney look at your lease.
What Commercial Real Estate Attorneys Do?
Commercial real estate attorneys specialize in the representation of commercial clients that are leasing, buying and selling commercial real estate. They are experts in commercial real estate and landlord/tenant laws. Here are some of the things that a commercial real estate lawyer can do for you when you enter into a lease:
- Prepare and review leases
- Negotiation and re-negotiation of leases
- Give legal opinions and advice
- Represent you in landlord/tenant litigation dispute matters
Lease Provisions that are Problematic
There are certain lease provisions that are problematic and can create disputes between landlords and tenants. They should be carefully reviewed by your attorney before you enter into a lease or renegotiate your lease. These provisions include the following:
- Common area charges (CAM)
- Use restrictions and zoning regarding the use of the space
- Rent increases and methods used to calculate them
- Tenant improvements. Who is responsible?
- Options to renew
- Insurance requirements
There can be many pitfalls in lease clauses that you may not understand that could cost you money. You need to understand all your responsibilities clearly. An attorney can identify these problem areas, and make suggestions on how to correct them in your favor to avoid problems down the road. It makes sense to have an attorney check your lease to protect your investment. The attorney understands your business goals and can make recommendations to correct any matters that may jeopardize your business interests.
Real Estate Attorney Help
A commercial real estate attorney can help you negotiate favorable lease terms to save you money, and avoid disputes later on. It is recommended that you work with a commercial real estate attorney when you are negotiating or re-negotiating your lease. The attorney can represent you in connection with any landlord/tenant matters that may arise.