Share to Social Media:
Many business owners choose to lease rather than purchase property, in order to avoid the upfront capital outlay required in a purchase or build scenario. The commercial real estate market in Texas is booming, having recently reached an all-time high point. As a result, businesses looking to lease space are flush with options and enjoy considerable leverage to negotiate a potential lease.
However, commercial property owners are going to draft lease agreements that best promote their own interests. Owners and their attorneys devote significant time drafting lease templates that are often one-sided and may put lessees at a disadvantage depending on the intended use of the property. Although the property owner might insist that most of the lease terms are not negotiable, a business owner is best served by identifying all desired changes or additions before signing any lease. Doing so is prudent and often fruitful in terms of protecting the company as a tenant of the leased space.
Negotiating can be a long, involved, and daunting process. Business owners who are unfamiliar with or lack experience negotiating and structuring commercial leases should consider consulting a qualified attorney to assist with the negotiation process. The attorney will review the lease terms to ensure enforceability, but can also identify any one-sided terms or latent risks embedded within the lease. The attorney can offer valuable guidance on the addition or modification of any terms that would best serve the interests of the business. Addressing these issues now can avoid substantial future costs associated with any dispute arising out of a misunderstanding or unidentified limitations within the lease agreement.
If you are considering signing a lease on commercial property, putting a qualified attorney on your side will help to level the playing field and ensure that you get the most of your lease, now and in the future. R. D. Adair, PLLC offers experienced counsel and can assist you with your lease issues. To learn more about how we can assist you in a related matter, contact us today to schedule a consultation.