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Commercial Lease Review, Drafting & Negotiation
Commercial leases are drastically different from residential leases, because you only have the rights that are provided in the lease: the ones you negotiate. Landlord or tenant, it pays to have the right lease in place.
A commercial lease is a legally binding contract that outlines the terms and conditions of renting a property for business purposes. It covers everything from the rental amount and payment schedule to the length of the lease and the responsibilities of both parties.
It’s that much more important not just to have a commercial lease in place, but to have the right commercial lease for your business in place.
Where do small business owners get stuck?
Understanding the obligations and rights in the lease presented by your potential landlord is a step far too many small business owners glaze over, and it can put them in a bind later: a big, expensive bind.
Is a lease part of the business you’re buying?
Then the lease is part of what you’re paying for. The SBA tells buyers not to be afraid to ask questions about contracts and leases, and lists contracts and leases among the documents an attorney and accountant can help you evaluate. See what to check before you sign and buying a small business in Illinois.
Book a discovery call before you sign, at 866-217-3432.
- Review
Understanding the obligations and rights laid out in the lease your potential landlord hands you, before you're bound by them.
- Drafting
A lease that covers the rental amount and payment schedule, the length of the lease and the responsibilities of both parties.
- Negotiation
Many small business owners don't realize how much they can and should negotiate their potential commercial leases.
FAQ
Commercial Lease Review, Drafting & Negotiation Questions
Still have questions? Book a discovery call.
Why is a commercial lease so different from a residential one?
Commercial leases aren't regulated nearly as much as residential leases, and for that reason most tend to be very landlord friendly, at least that's how they start out. You only have the rights that are provided in the lease.
What if I sign a bad one?
Because commercial leases are usually substantially longer than residential leases, it can take a while, and an awful lot of money, to get out of that bind.
Do you work with landlords too?
Yes. A commercial lease is a crucial part of any business operation, whether you're a landlord or a tenant.
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Commercial leases are drastically different from residential leases, because you only have the rights that are provided in the lease: the ones you negotiate. Landlord or tenant, it pays to have the right lease in place.