Are you looking to relocate your business? Or perhaps you’re adding a second or third location or renting new warehouse space for your expanding inventory. If so, you know that the details in your commercial lease are things you will have to live with for the months and years to come. Negotiate the terms poorly and your company could be paying the price for a long time. It just makes good business sense to have an experienced and knowledgeable commercial real estate lawyer review your lease before you sign anything.
Why it makes sense to consult a commercial real estate lawyer about your lease:
1. The lease was written by your landlord. Your landlord has had his or her lawyer drawn up the terms in the lease. By definition, the lease protects his or her rights. You need an advocate for your rights to review the document to make sure that the terms are equitable.
2. There may be accuracy errors. We are all human and subject to error, even your landlord. Having a fresh pair of skilled eyes review your lease document will likely catch any accuracy errors, such as the rent amount being typed incorrectly, that could end up costing you money.
3. Your competition could move in next door. One clause you need to insist on in your commercial lease agreement is for your landlord not to rent space in the same building to your competition. This may not be something that your landlord considers, but you certainly don’t want to be sharing a hallway or a parking lot with your biggest rival.
4. You want to keep your CAM fees in check. Common Area Maintenance (CAM) fees are to commercial buildings what Homeowner Association (HOA) fees are to residential buildings. Generally, but not always, these costs are divided among all the tenants in the building. Thus, when one tenant moves out, the other tenants have to pick up the difference. Since there are many fewer tenants in a commercial building when compared to a residence, these fees could seriously impact your company’s bottom line. A good commercial attorney can help you negotiate a cap for these fees, so you don’t have to worry about getting a huge increase.
5. You don’t want to sign away building liability. Sometimes a commercial lease has a clause buried that eliminates any liability for the landlord should you be sued by a customer or employee. For instance, if a customer slips on the floor of a common area, you don’t want to be held responsible in a lawsuit.
To learn more about how a good commercial real estate lawyer can help you with your next Texas business lease agreement, contact Tough Law Firm at 281-681-0808 or request a consultation. We’ve been helping business owners and managers like you for more than a decade.”