When looking for a new commercial property, commercial tenants are generally concerned with the location and the rental rate. Too often, business owners underestimate the need of reading their lease agreement thoroughly. The particulars of your commercial lease agreement are crucial. If an issue or dispute arises, the lease will govern your rights. Before you sign on the dotted line, there are a few important aspects to examine.
One of the most important aspects to consider when analyzing a commercial lease arrangement is your liability risk. Commercial landlords frequently attempt to shift a major portion of the liability risk on their tenants. You may be taking considerably more liability risk than you are comfortable with if you neglect to properly analyze the exact provisions of your leasing agreement.
Another important contract clause to keep an eye on concerns repairs and improvements to the business property. Check to see if the landlord has the authority to pass on maintenance and upgrade charges to your company. You should specify how repair and improvement costs are levied if they are passed on. It could be a one-time payment or a series of payments spread out over several years.
When a commercial landlord hands you a lease agreement, you have the right to inspect the contract’s exact provisions. Commercial leases can be negotiated in some cases, but others are “take it or leave it” situations. Regardless, you should speak with a corporate law firm in Miami who can assist you in reviewing the lease and advising you on the aspects of all conditions with your commercial lease agreement.
If you or your business needs legal advice, contact an M&A Attorney in Miami for help.