Commercial tenants often sign a lease and forget about the agreement until the last couple of months before its expiration. Yet there are important facets of business leases that every commercial property tenant needs to review to ensure that they do not incur excessive charges from their landlords.
The traps are set
Consider the potential costs of move-out provisions and the myriad end of lease obligations. These fees and responsibilities can add up quite quickly. It is prudent to address such issues before they rear their ugly heads at the lease’s expiration.
Commercial leases often mandate that the tenant keep the premises in a certain condition, remove improvements/alterations made to the property and restore the site back to its original condition. Yet few tenants actually consider these legal subtleties until the very end of the lease. Most errantly assume that the landlord will overlook the specifics of the lease’s language in an attempt to avoid a conflict.
Unfortunately, the exact opposite usually occurs. In such situations, it is the tenant who bears the burden of complying with the lease’s idiosyncratic language. This is often a costly burden that could have been easily avoided with a thorough lease review and negotiation performed by an experienced business contract attorney.
Be proactive to avoid end of lease expenses
As time progresses, the average commercial lease becomes longer and more complex. This is precisely why so many commercial property tenants are allying with experienced attorneys for a thorough review of these highly detailed documents. All sorts of legal issues can arise with commercial leases, ranging from convoluted exit clauses to exorbitant costs associated with end of lease terms.
More often than not, the typical commercial property tenant does not have the legal knowledge necessary to properly review the details of his business lease. The well-trained eye of a savvy attorney is exactly what is needed to identify potential pitfalls and negotiate fair contract terms with a landlord.