What happens during a commercial lease review?

| Apr 21, 2021 | Real Estate Law |

Before a business owner in the Boca Raton area signs a commercial lease agreement, they may find it beneficial to review the agreement with a real estate attorney. Sometimes a business owner may feel tempted to sign a lease agreement without fully understanding the terms. Or they may not have negotiated an agreement that is beneficial for their business’s future. For these reasons, meeting with an attorney before signing an agreement can be important.

Business investment

Where a business is located is often one of the most important decisions a business owner can make. But a commercial lease agreement can be full of real estate and legal jargon that can be hard to understand. Many business owners are not familiar with this language so meeting with a real estate attorney can ensure that they are not signing a lease agreement that can be detrimental to a business.

Explanation

A real estate attorney can help their client understand what is in the lease agreement and how it can affect their business. They can translate complex contract language into something that is understandable.

Negotiate

A commercial lease agreement is often negotiable. A business owner may feel like the agreement is non-negotiable but there are often items in it that the property owner is willing to change or allow. These may include signage issues, the right to assign the lease to another person if a business owner sells their business, a limited personal guaranty, operating expenses and exclusions, or relocation terms.

It can be a smart idea for many reasons for a business owner to speak with an attorney prior to signing a lease agreement. The future success of their business may depend on this agreement so having an attorney in their corner can be important.