A commercial lease is a contract between a landlord and tenant for the rental of a business or rental property. This lease starts by explaining the basic obligations and conditions of each party, like the length of the lease, the amount, and the due dates of rent. Commercial leases, more so than residential leases, tend to be written in favor of the landlord. Terms in the commercial lease describe the property that is being leased and the permitted uses of that property by the tenant. Other clauses include who is responsible for property taxes, property insurance, and utilities. Landlords can also include terms around the termination of the lease, like when the property is sold. A commercial lease is also known as a commercial real estate lease. If you are trying to lease in Florida at this time you probably know the market is very competitive and your search is very challenging. Real estate attorneys can help you thru the commercial leasing process. They can help you negotiate the terms of the lease to ensure you come away with a lease agreement you feel comfortable with. Take a look at the following tips and be sure to shop around.
It Is Easy To Get Frustrated
Be careful not to take something that is not just right for your business. Do your research and have an idea of the exact type of space you want to lease. Having a general idea of what you are looking for is a step in the right direction. A few things to contemplate are the square footage you need and whether there is enough parking. If this is your first lease, you may want to have a short lease just in case the potential success of your business is iffy. Short leases are more expensive, but it may be less for you than signing a long lease and finding this lease is just not perfect for you.
Be Sure The Lease Has Some Flexibility
Flexible lease terms refer to rental agreements that allow tenants to adjust the conditions of the lease to fit their needs. For example, flexibility in a lease agreement may allow for shorter or longer lease durations, options for renewals, or the ability to make changes to a typical agreement. It is normal to be focused on the price of the lease. However, you need to consider other terms with the lease that may be important to you, such as negotiation flexibility. Check out what the price per square foot includes and be aware of any maintenance fees for amenities of common areas. You will also want to understand your obligation under the lease. Knowing these can help avoid any issues in the long run.
Be Persistent And Patient
It is easy to get discouraged during the search for the right property. It is difficult to predict what is going to happen in the future. So, if you are a new business owner you will want to ensure that you have a good understanding of the price but also all the terms of the lease. There will be lots of paperwork to exchange. The landlord will be asking for your business’s financial status, requesting a credit report, and will check references. These items take time to get and review and may end up delaying the transaction.
What Is A Commercial Lease Lawyer?
A lawyer for a commercial lease is a type of real estate lawyer who helps a landlord and tenant navigate a commercial lease agreement. Since commercial lease agreements are more complicated than their residential lease counterparts, many people choose to hire commercial lease lawyers to guide them through the process to make sure the agreements are mutually beneficial. Commercial lease lawyers are skilled in legal lease agreements and are experts in determining how agreements should be worded. Their goal is to ensure that business owners pay a fair price for the space they lease and that there are no surprises for either party once the agreement is finalized. When you partner with an attorney you have access to a professional who can advocate for your best interest.
We Are Commercial Real Estate Law Experts
We handle all aspects of commercial real estate transactions. We provide you with effective, skillful service in writing, negotiating and reviewing contracts, leases and sales documents. Our firm has experience assisting businesses with all types of contracts and agreements. We draw upon our knowledge of Florida real estate law, land use law, and contract law to find optimal solutions for our clients.
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About Estevez Law Group, P.A.
About Estevez Law Group, P.A.Helping clients with real estate, commercial real estate transactions, residential property purchases and sales, estate planning, and more! Skillful legal representation can simplify complex real estate transactions and solve problems that frustrate all parties involved. At the Estevez Law Group, P.A. our boutique real estate law firm and title agency assists clients with all types of residential and commercial property matters.
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