Insider Tips from Commercial Leasing Lawyers

Insider Tips from Commercial Leasing Lawyers

Commercial leasing can be a complex and intimidating process for both landlords and tenants. From negotiating lease terms to understanding legal jargon, it’s important to have a knowledgeable team on your side. That’s where commercial leasing lawyers come in.

But what insider tips do these lawyers have to offer when it comes to navigating the world of commercial leases?

1. Understand Your Rights and Responsibilities

Before even considering signing a commercial lease agreement, it’s crucial for individuals to fully understand their rights and responsibilities as either a tenant or landlord. This means familiarizing oneself with state laws, regulations, and ordinances relevant to commercial leases.

According to Todd Bressi, attorney at law firm Ballard Spahr LLP, “A tenant should negotiate for as many rights as possible within the boundaries of what is reasonable under local law.” This includes knowing what types of clauses should be included in the lease agreement such as maintenance obligations, rent increases, termination clauses, etc.

2. Seek Professional Assistance

Commercial leasing lawyers possess extensive experience working with both tenants and landlords on various types of leases. They understand common pitfalls that can arise during lease negotiations and know how to avoid them.

“If you’re new to commercial real estate or don’t have any experience negotiating office space,” says Dan Spiegelman of Jackson Walker LLP, “I would recommend hiring an attorney who does this sort of rep all day.” Seeking professional assistance early on in the process can save time, money, and potential legal disputes down the road.

3. Negotiate from a Position of Strength

When it comes down to negotiating specific terms within a lease agreement,solid data is key.A skilled lawyer will compile data specifically tailored based upon your current perspective heading into negotiations – whether you are an established tenant or prospective one.

They will look at similar rent rates in neighboring properties around where you want space; what type of concessions have other tenants received in rent-sensitive areas; what’s normal for lease renewal options, maintenance obligations and other key terms.

4. Proactively Address Potential Disputes

Even with the most well-negotiated lease agreements, disputes may arise during the leasing process. Therefore, it’s important to proactively address potential disputes by including clear clauses in the agreement that outline steps for resolving any conflicts.

Commercial leasing lawyers can help identify common sources of disputes and suggest appropriate clauses to include in lease agreements. This proactive approach can save all parties time, money and stress should a dispute arise.

In conclusion, navigating the world of commercial leasing can be daunting without proper guidance and expertise. Seeking assistance from a reputable commercial lease lawyer can provide valuable insider tips on how to protect your rights and negotiate favorable terms in your next commercial lease agreement. With their knowledge and strategic advice, both landlords and tenants can secure desirable outcomes that align with their unique needs and goals.