One of the first contracts a business signs is often a commercial lease. Unfortunately, many businesses sign them without fully knowing what they are agreeing. Commercial leases are usually complex documents that place significant legal burdens on the tenant. Often a few months or years down the road, tenants find out through tough experiences that the lease held hidden traps.
We help businesses understand their commercial leases, and make sure they are fair. Investing now to have an experienced real estate attorney carefully review your commercial lease could help save your business money later.
Because rent is the single biggest fixed cost for many businesses, negotiating a fair and reasonable lease can be the difference between a successful business venture and not. Many business owners don’t realize that their lease may have clauses that drastically increase monthly costs with little or no warning.
Make sure your business isn’t hamstrung down the road by sudden increases in rent, fees, or maintenance costs. We understand what to look for in a lease and how to avoid these potential traps.
Our firm can also help you renegotiate problematic clauses and limit the risks that you and your business are exposed to under the lease. Don’t let one of your most important contracts be something you sign without fully understanding your obligations and liabilities.
Canada Lewis attorneys draft and review leases on a regular basis. We expect a small retail lease review to cost approximately $2400-$2800, which includes sending a redline of suggested changes to the landlord and a phone call with the landlord to discuss the proposed changes. More complex commercial and medical lease reviews range in cost from $5000-$9500, depending on the complexity of the documents, and the terms that must be negotiated. This is money well-invested in the success of your business.