An Experienced Lawyer can help you out
Sometimes, it’s well-worth the time and effort to seek legal guidance on certain issues. For example, it’s a sensible idea to look for competent property lawyers to negotiate a profitable corporate lease for your requirement. Corporate property lease contracts are often complex and lengthy documents. They are often replete legal jargon and may contain multiple clauses and so on that we may easily miss, if we tried to negotiate on our own. Hence, it’s invaluable to have reliable legal counsel looking out for your best interests. It’s crucial to completely understand the terms of the lease and request for any modifications (if required). A property lease agreement will usually contain terms that are favourable to the landlord and his or her convenience.
Read on for some useful tips regarding negotiating a corporate lease.
- Companies and businesses may wish to look out for property leases that are valid for at least a year before they come up for renewal. This is especially useful for small businesses as you should not be obliged to move your business location every now and then due to a short-term lease. On the other hand, if you are on the look-out for more favourable locations or lower rents etc, you can also opt for a short term commercial lease.
- Price is an important factor and may play an important role in deciding on a location for the business or company. Businesses that are starting up may look out for lower rents while bigger companies may have a bigger budget when it comes to space rental. It’s a good idea to compare rental costs in the area before signing on the dotted line. Most landlords may be interested in increasing the rent on an annual basis. Ensure that you understand the financial implications of rental costs for your business.
- Corporate or commercial property leases often have hidden clauses that may include additional costs. Most people may miss these clauses or may not understand the cost implications. A gross lease, for example, is usually inclusive of all costs while a net lease may expect the tenant to pay for additional costs. In fact, a property lease that offers very cheap rent should be carefully scrutinised for hidden costs. Such terms and conditions are usually couched in legalese which may be challenging to interpret without the assistance of an able legal professional.
While you may understand the general purport and conditions contained in the property lease document, this cannot compare to a complete analysis of the lease contract by an experienced property lawyer. It’s much better to negotiate and discuss lease terms before you agree. This way, you are in an empowered position to make an informed decision.