June 29, 2016
For any new business starting out, or for an established business looking to move to a new location, office space will likely constitute one of its more significant expenses, and also set the tone for the type of work environment that the owners wish to foster. Given the importance of the office space itself, and the numerous potential pitfalls and potential liability that could arise in connection with the underlying lease, it is extremely important to retain attorneys with experience reviewing and negotiating commercial leases.
Do I Really Need A Commercial Lease Lawyer?
A layperson may think that the only truly important aspect of a commercial lease is the amount of rent listed therein. However, there are several items in a lease that an experienced commercial lease lawyer can help a client negotiate in order to save the client money, better shield that client from liability and, in so doing, ensure the long term viability of the client’s business.
In particular, oft overlooked aspects of a commercial lease that could have an impact on a business’s bottom line include options to extend the lease if so desired, responsibility (and associated cost) for items like taxes, garbage removal, electricity, water and maintenance of the HVAC unit, landlord assistance with any needed build outs and any free rent or other rent concessions during the initial move-in period. Further, a shrewd commercial lease attorney can help shield the client from liability that might otherwise arise in cases of fire, condemnation and other destruction of the building/property housing the office.
Lastly, with the proper legal assistance, a business can ensure that the lease adequately addresses commercial needs, such as signage, access to elevators, hours of heat/air conditioning, the permissibility of sub-leasing and the potential for renovations to existing space.
Commercial Lease Lawyers Can Help You Move On Up
Commercial leases are often exceedingly long documents, drafted by the landlord with the landlord’s best interest in mind. For those reasons, and the reasons listed above, it is absolutely essential to retain an experienced, skilled commercial lease attorney to help level the playing field and help your business to avoid unnecessary costs and liability.
Please note that this is only a brief overview of some of the legal issues surrounding commercial leases and other commercial real estate matters. As such, it is important to remember to obtain guidance from an experienced commercial lease lawyer prior to executing your next lease.
If you are interested in learning more about this topic or require assistance in connection with commercial lease review and negotiation, please e-mail us at firstname.lastname@example.org, or call us at (212) 246-0900.
The material contained herein is provided for informational purposes only and is not legal advice, nor is it a substitute for obtaining legal advice from an attorney. Each situation is unique, and you should not act or rely on any information contained herein without seeking the advice of an experienced attorney.
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