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Hire A Commercial Lease Lawyer For A Smooth Business Establishment

You’re about to form a new business – whether buying a franchise or forming a new venture from scratch; so, you’re so excited. However, you have to be careful not to give little attention to one critical step in starting the business – the commercial lease. Before signing any commercial lease, you must read it, know what it means, and that’s where you need to hire a commercial lease lawyer

Reading and understanding the commercial lease sounds obvious but it’s a critical step many young entrepreneurs tend to forget. Ensure you don’t read the first few lines and assume that everything conforms to what the leasing agent told you.

Why Hire an Experienced Commercial Lease Lawyer

It’s important to hire an experienced lawyer to help you through the commercial lease process. A good lawyer will help you understand every aspect of the lease, including the following:

The total cost

In numerous commercial leases, the tenant pays a base rent amount every month in addition to a portion of insurance, taxes, and maintenance of the common areas and the building. In a lease to a restaurant or shopping center lease, you may need to pay extra payments that are a percentage of the gross sales of the tenant.

commercial lease lawyer

The building

How old is the building? When were major repairs to the roof, common areas, and heating and cooling systems last done? Know all these and other things to ensure you don’t get into trouble along the way.

Neighbors

If the property you’re leasing is a shopping center or mall, you may want to know rent space to a competitor. Maybe your business needs peace, and so you may require bolstering the provision allowing for your quiet enjoyment of your leased space. That would allow you to terminate the lease if your neighbors will be too noisy.

Financing

You also need to understand your finances. If you’re a franchisee, a commercial lawyer would advise you not to sign a lease if you’ve not finished your financing or finished the purchase of your new business. You wouldn’t want to make lease payments for a business you don’t have.

Even when your landlord insists on signing the lease, your lawyer will know the right steps to take to ensure you don’t get into trouble in the future.

Conclusion

The above are just a few aspects in which a commercial lease lawyer can help you while establishing your business. Don’t do it alone – hire a good professional for a smooth venturing into business.

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James Lions

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