Commercial Leasing Lawyers
Commercial Lease Dispute Lawyer
Many properties are held under a lease. A commercial lease is a lease for business. There are different types of commercial leases. You should always hire a real estate lawyer when signing a lease. Also, you should do the same when renegotiating a lease. This lawyer would practice in real estate and contract review. They might call themselves a business lawyer or a real estate lawyer.
You often have to pay utilities and property taxes in addition to the base rent with commercial leases. Commercial landlords are responsible for the insurance and repairs of the property. A double net lease includes paying the insurance on the tenant side. A triple net lease has the tenant paying for pretty much all the costs of the building. The exception to this is the maintenance of the building. This is still the requirement of the commercial landlord.
If you need a commercial lease dispute lawyer, call us.
A full-service gross lease has the tenant paying a flat rate per month. The rent doesn’t change based on insurance, repairs, and utilities. This base rent is much higher than a triple net lease. This is because the landlord is taking on more risk. You can often get a better deal as a tenant with a triple net lease. However, many tenants prefer a flat rate.
You need to negotiate the length of the lease. Many commercial landlords prefer leases of five years. However, most tenants prefer leases that are around 24 months. Tenants prefer shorter leases because it’s more flexible. The company doesn’t want to be in a position where they cannot grow because of their lease. However, if things don’t go well, they want to be able to scale down.
Hire Lawyers Who Have Extensive Experience
Lawyers can provide you with legal advice. Therefore, you will want to contact one as soon as possible.
You don’t want to spend a lot of money on improving the property as a tenant if you have a short term lease. If your location is very important to your business, you will want to make sure the lease is tight. With a long term lease, you can have the first few years with lower rent. This will give the business time to be able to grow and have cash flow. Many businesses lose money for their first two years in business.