Commercial Lease Lawyers
Leasing a location for a business is common now a day. Almost every small organization prefers to lease a location for their business than owning it owns. Before proceeding for a commercial lease each organization has to complete some legal paperwork or have to sign a bond so that there is no further issue that will create. For this, they require an assistant who can assist them in negotiating a lease, and tell them about other considerations that need to be taken into account.
Commercial vs. Residential leases
Commercial Lease is very different from the residential lease, the commercial lease can be up to 4-5 years or more but residential leases are usually for 1 year. A residential lease is for the enjoyment of a tenant’s personal time and space, but the commercial lease is for implementing your business goals and to run an organization. So before assuming a commercial lease as same as a residential lease, please go through all the disadvantages.
Commercial office leases
Leasing a commercial space includes a lot of things, more than just a good location. A lot of disputes are attached with it that have to solve & discussed before signing an agreement. The significant issues can arise with the commercial lease are parking, snow and ice removal, maintenance of the property and building, signage, security, and HVAC (heating and air conditioning) systems.
Commercial Retail or Restaurant leases
Leasing premises for commercial purpose and running a restaurant includes various disputes that need to be discussed and settled before further proceeding. Here is some question that an organization has to investigate before any dealing with commercial retail and restaurant leases.
- Investigate about any incentives for the rental fee or other discounts.
- How much rent will increase per year or for how long rent increases will occur over the lease terms?
- Who is responsible for maintenance of the common areas?
- If the landlord will agree to not accept competing businesses as tenants in the location
The Steve Franko Law Firm can help provide insight for questions you may want to ask regarding your specific lease agreement.
Single net, double net, and triple net leases
Each premise has different financial agreements. These agreement terms are important for small businesses entering into a commercial lease, as each premise put different financial burdens on the tenant. Various types of leases that can be varied according to the location and place are:
- Single net leases: According to this lease term a tenant pays the rent and property taxes.
- Double net lease: A double net lease adds building insurance to the single net lease responsibility of the tenant.
- Triple net lease: Triple net leases include all the previous expenses and also adds maintenance fees to the tenant’s financial responsibility.
If you want to hire an adviser who can assist you regarding all lease terms before making a contract, you can get an expert at Steve Franko Law Firm, who helps their clients regarding all disputes of lease terms and assist them for all pitfalls of leases and disputes of the project.
Each lease property requires some documents. It is important that documents that alter or add to the lease agreement be drafted and reviewed by an attorney to ensure that the business is protected. Various documents that are required before leasing area:
- Consent to assignment
- Subleases by landlords
It is important to consult with an experienced and knowledgeable business attorney in this process. Steve Franko Law Firm business attorneys are available to review, address, and otherwise assist you in the process of leasing commercial property. Contact us to see how our attorneys can assist your business.