When your business grows beyond your garage, you will need to sign a commercial lease. These documents can contain complex clauses such as:
– Liabilities for landlord’s operating, insurance, and tax costs, possibly including costs not caused by your business
– Fluctuating operating costs, causing price uncertainty
– Missing or one-sided termination clauses, possibly locking you in for a long period of time.
– Vague renewal clauses, possibly raising your payments after you have already invested in substantial renovations
– Difficult additional requirements, including requirements to purchase additional insurance, security devices, etc.
Unlike residential tenants, commercial tenants have very few protections under the law – buyer beware! On the flip side, a commercial landlord often has higher capital and operating costs than a residential one – the seller must be careful as well.
At Paul Mitassov Law we will:
– Review your potential or existing lease documents
– Help you understand all the lease terms
– Obtain additional information to help you make informed decisions;
– Draft lease documents that best address your business’ need
– Negotiate better lease terms on your behalf
– Represent your in any legal proceeding
Commercial leases are major business decisions with thousands of dollars (or more) at stake. An ounce of prevention is worth a pound of cure – book a meeting with our lawyers today!