If you pop into an apartment complex to see about a unit, there is a strong likelihood that the manager won’t materially differentiate you much from the next person who will walk in the door.
That is, you’ll both be viewed about the same as potential rental prospects, given a few key variables — such as credit score, viable employment and a proven rental history — being essentially the same.
That is hardly the case when it comes to a commercial lease negotiation and agreement, where a landlord will likely zero in a number of variables that readily differentiate every possible lessee.
As noted in an online overview of commercial leases, such agreements “are more complicated than residential leases because the terms are negotiable and vary greatly from lease to lease.”
Perhaps you’re a Subway franchisee. Maybe you’re a book store owner looking for a new location. Or the owner of a laundromat.
Whatever the case, you’re going to have highly specialized needs and requirements, and those are going to have to be discussed, agreed upon and clarified quite methodically and accurately in a commercial lease contract and other relevant agreements.
A proven business and commercial law attorney can help a prospective lessee ensure that all key issues are identified and adequately addressed in a lease agreement and attendant documentation.
Those issues can range widely across a number of vitally important concerns. How much is rent? Is it based solely on square footage, or does it take into account additional factors? Can the lease be easily extended or sublet to another lessee? Can necessary improvements be made to the property? Will the landlord promise not to rent nearby spaces to direct business rivals during the lease term?
Does the lease comply with all applicable federal, state and local laws?
There is a lot for any prospective lessee to think about. An experienced commercial law attorney can spotlight the relevant terrain and help mitigate business risks.
Call Cook & Price, PLC today at 480-407-4440 or email us through this website.