Committing to a lease on a commercial property is a big step. When you are making such a huge commitment you need to be sure that everything is done right, and that is why we suggest having a Long Island, NY real estate closing lawyer on your side. An attorney from our firm can make sure that you are getting the best possible deal on that new commercial lease.
Why Should I Hire a Lawyer When Signing a Commercial Lease?
You are not required to hire a lawyer, but an attorney with a background in commercial real estate can:
Fight for the best price: Your attorney can help you negotiate for the best possible price on your lease, but that’s not all. They can also help you avoid contract clauses that may cost you money, or additional terms that may cause you issues down the line.
Help you consider the other costs of leasing: Sometimes business owners just focus on the rent and neglect to factor in the other costs of leasing. Your lawyer can help you stay aware of any potential fees and other charges that you might have to deal with in a commercial lease contract. Your attorney can also help you figure out whether future rent increases baked into your lease agreement will be something that you can handle.
Make sense of the legal jargon: Sometimes leases are full of words that look familiar but do not make much sense when put together. If your eyes begin to glaze over as you read this legal jargon, then you should know that one benefit of a lawyer is that they can make sense of all this for you. You can avoid any common leasing pitfalls or sneaky language placed in there by a landlord, and that can potentially help you save money or avoid trouble later on.
Protect you and your company’s interests: You might run into some sort of issue while you are leasing your property. A lawyer can ensure that your lease clearly spells out your rights when something goes wrong and how your company’s interests will be protected.
Negotiate everything: Your attorney can also help you negotiate for things that you did not even consider making a part of your lease. For example, did you know that you may be able to specify what kinds of tenants are put around you? You can also negotiate how much notice is needed before a landlord makes repairs that could affect your day-to-day business. Your lawyer can even make sure that there are provisions for what happens when the rent is late or if you want to sublease part of the space to another tenant.
Schedule a Consultation With Our Real Estate Experts
When you are ready to lease a new property, don’t go it alone. Contact David A. Gallo & Associates LLP and set up a consultation today. We would love to tell you more about how we could be of assistance to your and your company.
