When it comes time to sign a commercial lease, everything can depend on who wrote the draft. If you or your company wrote the draft, you can expect it to be fair and to benefit your company and shareholders. If, on the other hand, the other party is responsible for the language in the draft, you can be all but certain that it is worded for their benefit and not for yours.
In the latter case, you can be sure that if a litigation scenario arises, the other party will have included language which will work against you. Depending on the strength of your bargaining position, you may be forced to sign a standard form provided by the other party. Failure to adhere to their terms could result in additional fees and legal implications.
For these reasons, you need an attorney experienced in negotiating commercial lease deals. A Commercial Lease legal expert can help you to understand the terms of a lease contract. An attorney can help you to negotiate to remove or reword terms that are unfavorable and include terms that protect you.
Texas Commercial Lease Lawyers
The commercial lease negotiation attorneys of Querishi & Salejee PLLC can create a custom or standard lease contract for you. Term types you should be wary of include:
- Default: You want to know what constitutes a default and what remedies are available
- Personal Guarantees: You need to know whether liability will be absolute or limited
- Notice and Cure: Will notice be required before the landlord can lock the tenant out?
- Sale of Business or Property: Can the tenant or landlord assign the lease, and under what circumstances?
- Property Damage: Is rent abatement available?
This is just a sample of the types of terms you may be asked to agree to. If you do not understand the terms you are being asked to sign under, you may be subjected to rent increases, alterations of terms, or have the property sold out from under you without warning.
When you work with Querishi & Salejee PLLC, our team will ensure you understand the terms. We will help you obtain a lease that is fair and profitable to you and your interests. Get in touch today to learn more.