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If you're renting or letting out a commercial space, navigating the legalities in your state can be confusing. Using a commercial lease lawyer can not help you set out the obligations and rights of both parties, but it'll also enable you to deal with any disputes effectively.
Keep reading to find out how an effective commercial lawyer can benefit your business in the long run.
Where can I find a commercial lease lawyer online?
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What's in this guide?
- Where can I find a commercial lease lawyer online?
- What is a commercial lease lawyer?
- When should I use a commercial lease lawyer?
- Commercial lease lawyers vs Residential lease lawyers
- What does a commercial lease lawyer include and not include?
- How effective is a commercial lease lawyer?
- Do I need a lawyer for a commercial lease agreement?
- How do I write a commercial lease agreement?
- Where to get free legal documents and templates online
What is a commercial lease lawyer?
A legally binding agreement between a landlord and a business tenant for the rental of property is called a commercial lease. This contract establishes the rights and obligations of the owner and the potential tenant.
A lawyer who specialises in this area is a commercial lease lawyer. They can help you draft lease agreements, negotiate the terms of the contract, review the lease agreement and whether you can commercially lease a premise.
When should I use a commercial lease lawyer?
A commercial lease lawyer is experienced and knowledgeable of the retail lease act relevant to your state. If you are a tenant looking to lease a commercial space, hiring a commercial lease lawyer can help you avoid unreasonable rent negotiations. They also help deal with excessive rent hikes during the annual rent review and negotiate exclusivity clauses to prohibit a landlord from allowing competitors lease in the same complex.
This type of lawyer will also ensure your security by drafting paperwork for lease renewal. Typically, you would hire a commercial lease lawyer before signing any agreement.
Commercial lease lawyers vs Residential lease lawyers
A commercial lease lawyer deals agreements on the use of a specific property for a business or commercial activity for some time, in exchange for money paid to the landlord. In contrast, a residential lease lawyer deals with the relationship between a landlord and tenant looking to rent a space to reside in personally. The parties of a commercial lease have more negotiating power than the parties of a residential lease. Commercial leasing period is also longer, ranging from three to 20 years.
The terms of agreement and responsibilities of the lawyers differ significantly between a commercial lease and a residential lease.
What does a commercial lease lawyer include and not include?
The typical responsibilities of a commercial lease lawyer include:
- Premises legislation and license
- Lease negotiation
- Term of lease
- Preliminary documentation
- Dispute resolution
- A commercial lease lawyer does not handle the property on behalf of the landlord. They do not seek out tenants for the premise or manage the maintenance of the property.
How effective is a commercial lease lawyer?
The commercial lease you choose will depend on the type of business you want to set up the premises and the state location of the premises. As each state has different legislation on commercial leasing and fit-out regulations, so the commercial leasing lawyer you're working with must have experience of reviewing or drafting leases in your state. A commercial lease lawyer can advise you on the law relating to commercial leasing to help draft and review commercial leases.
Know your rights and obligations under a commercial lease so that you can negotiate good commercial terms with the landlord. Hence, hiring a lawyer to advise you before signing any lease agreement will give your business the best possible chance of success.
Do I need a lawyer for a commercial lease agreement?
Whether you require a retail lease or a non-retail lease, a commercial lease lawyer can be an investment for your business. Not only will they negotiate the terms with your goals in mind, but they also ensure to keep you away from signing any potential pitfalls. For example, they can get a clearer picture of what the outgoing expenses will be, or help you compile a detailed condition report of the premises before the lease commences. This report minimises the possibility of disagreement between landlord and tenant. Should a conflict arise, a commercial lease lawyer can handle the disputes.
How do I write a commercial lease agreement?
A commercial lease agreement should be in simple language and easy to understand so that both parties are aware of the terms they agree to.
Several online resources provide legal document templates. A standard commercial lease agreement would usually contain:
- Information of the landlord and the tenant
- Rent in the property and the deposit
- The payment method
- Property taxes and associated fees
- Property insurance
- Tenant conditions
- Utilities and amenities
- Remodelling and improvements
- Repairs and maintenance
- Option to sublet
- Illegal activity disclaimer
- Termination conditions
- Option to renew the lease.
Where to get free legal documents and templates online
Here's some information on where to find free commercial lease lawyer quotes and online legal resources:
- LawDepot. By answering a few questions, you can create your commercial lease agreement.
- Lawpath. Find customisable commercial lease agreements with Lawpath. Sign up for a membership of $24 per month to access their legal documents. You will also have unlimited revisions, customisation and edits.
- LegalVision. LegalVision's commercial leasing lawyer can advise on your lease review or assignment of the lease at a quick turnaround time. They will also provide you with all the necessary information to resolve any leasing matters. Visit their website for a free consultation.
- Net Lawman. Choose from a variety of legal documents at Net Lawman. Their services are accessible online, and you can have your document reviewed by their legal team.
- Sprintlaw. Choose between a fixed fee package or a membership with Sprintlaw, to get help from one of their experienced lawyers. A lawyer will review the commercial lease and point out any parts you should be aware of, or that may not be beneficial to you. Gain access to over 100 legal templates with the option of a unique template tailored to your needs for a custom quote.
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