Are you about to start up your own business and now have the daunting task of reading a lease? Already operating a business and you need a lease or you want to renew your lease?
As a tenant you need to make sure that the terms of a lease are not only fair but that you understand your obligations under the lease. Gayler De Vere Legal can guide you through the process.
It might be a commercial lease or a retail shop lease which you are considering. The requirements of the different leases can be quite significant. Getting the right advice is going to give you the best chance of avoiding the pitfalls. Running a business is stressful enough without adding pressures that can be avoided with sound and direct legal advice.
If you are a landlord then the same issues will arise. You will need to know which form of lease will best allow you to ensure that the rent gets paid and that any issues and concerns which might come up along the way are easily dealt with.
As a landlord you will understand the significant investment you have in the premises you might want to lease, so protecting your investment and your income stream should be your prime objective.
Some commercial real estate agents will offer you their ‘skilled assistance’ in preparing a lease. This will probably be offered on the basis that they can save you money – well so long as you can go back to the commercial real estate agent when things don’t quite work out. We know that agents are skilled in their particular area of work – but when it comes to lease preparation and legal questions about leases, let’s just leave the technical stuff to those who know.
For both landlord and tenant there is only one option – Get it right the first time.
If you want to better understand the terms used in commercial leases then you can download helpful material by visiting our blog post on commercial lease terms.
Always remember that a lease is simply an agreement, an agreement which has to be fair to and protect the rights of both the tenant and the landlord.