Why Have a Commercial Lease Reviewed by a Lawyer?
When you own a business, you need to have a place from which to operate your company. Unless you own a property, you will need to enter into a commercial lease agreement. Likewise, owners of commercial spaces who want to benefit from their investment will need to find a tenant and sign a commercial lease.
Both the landlord and the party leasing the commercial space should be represented by a qualified and experienced attorney during lease negotiations and before signing the agreement. It is imperative that all parties have a commercial lease reviewed by a lawyer in order to protect their own financial interests. Pinter Albiston LLP has extensive experience with the negotiation and drafting of commercial leases. Our experienced Las Vegas real estate lawyers can assist you in your real estate transactions to ensure you are making a smart choice and entering into a contract that has terms that are reasonably fair to you.
You Need to Have a Commercial Lease Reviewed By a Lawyer
It is important to have a commercial lease reviewed by a lawyer because you and your company will be legally bound by any contractual agreement that you have signed. A failure to understand the agreement or any of its terms is not justification for avoiding your contractual obligations. Once you have signed the lease, you are bound by its provisions even if it turns out that the contract was not advantageous to your interests. A bad lease could jeopardize the value of your commercial real estate investment or the success of your business, and you don’t want to take this chance. In fact, if you are entering into an agreement on behalf of a company, it may be part of your fiduciary obligation to the business to do your due diligence and have a commercial lease reviewed by a lawyer.
When a lawyer reviews a commercial lease, your attorney can advise you on the obligations that the lease creates. Perhaps more importantly, your lawyer can look for some of the clauses that should be in the lease in order to protect you. For example, if you are leasing a commercial space, you may want to be sure there are provisions included that limit the landlord from renting space in the immediate vicinity to your direct competitors. You may also want to ensure that there is an option to renew the lease at the end of the term so you do not end up having to move your business if you aren’t able to renew or negotiate favorable terms when the lease has ended. For landlords, it is also important to ensure that you protect your interests in the business and make clear what costs the tenants will be responsible for bearing.
Pintar Albiston LLP can help you throughout the process of creating and signing your commercial lease. Call today to schedule a consultation and have your commercial lease reviewed by a lawyer in Las Vegas with experience on commercial real estate matters.