Should You Have a Lawyer Review Your Commercial Lease Agreement?
For many business owners, choosing an appropriate space from which to run your business is imperative to your success. Your business space should be cost-effective, functional, and well-maintained in order to best conduct operations. While some owners have the resources and capital to purchase commercial property, many others have to rent space. When you rent a commercial space, you will have to sign a commercial lease that sets out the terms of your landlord-tenant relationship.
Many renters believe that a lease is not a big deal and sign without even carefully reviewing it. However, a lease is legally binding just like any other contract and, if some of the terms are unfavorable, you may find yourself facing serious legal implications. For this reason, it is highly important to have an experienced business litigation lawyer review your commercial lease.
The following are some of the specific reasons why you should always have an attorney review your lease:
- Because a landlord is the one who presents the lease, it is to be expected that the terms of the lease will be in the landlord’s favor;
- You do not want your personal assets to be at risk if your business gets sued due to personal guarantees;
- You do not want to rent in a building where any common area maintenance fees (CAMs) will be unreasonable, exorbitant, or invalid;
- You do not want the landlord to rent nearby spaces to competitive businesses or any businesses that may deter customers or hinder their experience due to noise, odor, or similar factors;
- In some cases, a landlord may forget to update a lease and may have the incorrect address, rent amount, or other details that do not apply to the unit you are renting;
- By having a lawyer be involved in the lease process, you can demonstrate to your landlord that you are a sophisticated renter with legal support so they do not try to take advantage of you; and
- An attorney can help you with cost/benefit analysis to determine whether the terms of the lease will be cost-effective for your business.
Once you sign the lease, if any legal issues do arise, you will already have an attorney on your side who is familiar with the terms and provisions of your contract and can defend your legal rights. These are only some of the reasons why you should have a lawyer review your lease.
Contact An Experienced West Palm Beach Business Litigation Attorney For Assistance
If you are looking to rent a commercial space for your business, it is critical that you first discuss your situation with an experienced business attorney. A business litigation lawyer will review the lease agreement, negotiate any necessary changes or unfair terms, and ensure that all of the provisions of the lease are in the best interests of you and your business. Do not risk jeopardizing your commercial space and your bottom line. Instead, contact a skilled business attorney at the West Palm Beach law firm of Pike & Lustig, LLP at 561-291-8298 today.