About to lease out space in your building or rent space from a landlord of a commercial property? Whether you are a tenant or an owner, a lease for a commercial space is a long term commitment by both parties to the lease. Often the relationship will be for many years especially if the lease terms also include options to renew the lease.
Beyond the monthly rent there are many other considerations – what constitutes “additional rent?” What are the “pass troughs” allowed under the lease? What is a breach of the lease by one side that releases the other from the lease? What are my rights as a landlord if the rent check bounces? How is an option to renew triggered? Should we arbitrate or go to court over a dispute we can’t resolve informally?
There is an old but true saying in business contracts including commercial leases – “You do not get what you deserve, you get what you negotiate.” Most tenants do not negotiate leases for a living – you operate your business from the commercial space you are going to lease! Many landlords are very savvy about the price and terms for leasing but sometimes they may draw a sophisticated tenant who wants to re-write your standard lease form. Or maybe your standard lease form is, shall we say, “aged” and needs updating?
For a commercial property lease agreement that will have a lasting impact on your business, hire an experienced attorney to assist you to negotiate the best lease possible. Attorney Craig Alexander has experience on both sides of the lease table (tenants and landlords) for office lease agreement negotiations. Whether your leasing a new space, renewing an almost expired lease or if you need a review of your “aged” standard commercial lease, call Craig Alexander to discuss your legal needs. 949-481-6400.