In any business venture, there are a lot of things competing for your time, attention, and especially money. That’s why running things by a business attorney might not seem like a top to-do list item for you. The reality is though, it should be, and this is especially true for instances in which contracts are involved, as in the event of a commercial lease. There are a number of benefits to having a competent attorney look over a commercial lease before you sign on the dotted line.
A Commercial Lease Review Provides Information As a commercial tenant, you have plenty to worry about with your business, and a real estate agent might make the tempting argument that your new lease agreement doesn’t need further review. The thing is, your commercial landlord almost certainly had the lease drafted by a real estate attorney, and not knowing what the lease is saying could be disastrous for you. You need to know what obligations you’ll have as laid out by the commercial lease. You don’t want to be the unpleasant surprise of discovering that your lease named you responsible for maintenance and repairs without you knowing.
A Real Estate Attorney Can Help Meet Your Needs
In addition to the fact that you’ll be seen in a more professional light if you have your real estate attorney conduct a commercial lease review, it also sets you up to have some negotiating power. Put simply, your requested changes to the lease will carry a lot more weight coming from an attorney than from you alone. You can use the opportunity to ensure that you have a say in planned improvements. It’s also useful for getting some flexibility on the lease term, which can be tailored to your plans for expansion or protect you from unforeseen circumstances in the future.
Lifeline for Future Business Dispute
In the unfortunate event that you have a business dispute with your commercial landlord at some point during your lease, it can make all the difference that you had a trusted corporate attorney look it over at the beginning, particularly if he or she is a litigation attorney who can represent you in court. That long-term relationship ensures that whoever is representing you is very familiar with your case and the circumstances surrounding it. In general, it’s always a good idea to have a reliable advisor for business litigation on your side, and commercial leases are no exception.