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Commercial Leases Lawyers in Orlando, Florida
If you are renting a commercial space for your business or if you are a landlord planning on renting out a commercial space, it is important to understand how a commercial lease can differ from a lease you might sign when you are renting an apartment or a residential property. When it comes to a commercial lease, landlords generally have more flexibility under the law when it comes to term limits for the lease. Leases can be quite long or shorter in length, depending on a business’s needs and how long or how short-term a landlord is willing to lease out a space. There can be more negotiation when it comes to commercial leases because these contracts are considered business deals. Furthermore, commercial leases are not subject to the same legal regulations or restrictions that residential leases are subject to. There may not be caps on rent and there may not be automatic provisions for renters unless these provisions are included in the lease contract.
Commercial leases are considered binding contracts. Breaking a commercial lease can be much more difficult than breaking a residential lease. Businesses need to carefully consider their cash flow, their space needs, and consider the term that is right for them. For example, if you are a new business renting a space, you need to think of the possibility that cash flow may decrease, but, you also need to consider the possibility that your business might outgrow the space. Having provisions in your contract that consider both possibilities can protect your business.
Legal Counsel, P.A. employs a commercial leases lawyer in Orlando, Florida who may be able to help you. Whether you are a business renting out a commercial space or a landlord looking to rent out your commercial space, our lawyer can review your commercial lease agreement before you sign it to identify any issues, and include provisions in the contract to protect your rights if you are a renter. If you are a landlord, your commercial lease agreement is the foundation of your business and your cash flow depends upon it. Legal Counsel, P.A. employs a commercial leases lawyer in Orlando, Florida who may be able to help you with your lease contracts. Have questions? We have answers. Contact Legal Counsel, P.A. today at 407-982-4321.
What Provisions Should be Included in a Commercial Lease?
Before signing a commercial lease and before providing your commercial lease contract to a renter to sign, consider whether the lease has some basic terms. While it might be tempting to use a template commercial lease form from the internet, it is important to understand that every business relationship and space will have its own unique need. Having a lawyer to review your commercial lease agreement can help you determine whether the lease has the required terms and whether the terms serve your business interests. Here are some terms that should be included in a commercial lease agreement:
- Length of the lease: Commercial leases can be any length of time. In many cases, businesses and landlords negotiate a length of time that is reasonable for both parties. The contract should also stipulate how the lease can be renewed and whether the landlord can terminate the agreement at the end of the contract. Information about how the renter can terminate the lease, if permitted, should also be included in the lease agreement.
- Rent: Will rent amounts be fixed, or will rent amounts grow over time and at what rate? Because commercial spaces are not subject to rent control laws, it is important to carefully negotiate rental costs and increases. Another question to consider is whether rent includes taxes, insurance and other costs, or whether the renter will be expected to handle these items separately. Will the renter be expected to pay for heating, water and air conditioning, or is this included in the lease?
- Modifications: Many businesses need to make modifications to a space when renting. For example, a restaurant may need to add a kitchen or fixtures. A store may need to change the configuration of the space. The lease agreement should include restrictions on modifications, if there are restrictions, and specify what will happen to any modifications once the term of the lease ends. For example, will the renter be permitted to keep any kitchen equipment installed in the space?
These are just some terms that are included in most commercial leases. However, there are many different types of commercial leases and a commercial lease may also include other legal provisions. For example, some lease agreements include arbitration clauses. Other lease agreements may have different terms for how rent is to be paid. For example, some lease agreements may require tenants to pay rent plus a percentage of sales. Other lease agreements may require tenants to pay rent plus insurance, taxes, and other costs. Finally, some leases are fully-serviced, which means that base rent plus any extras are included in the rent, but these rental rates can be higher than if the rent is separated from other costs. If you are a business, you can always negotiate to find the lease solution that’s best for you. If you are a landlord or a tenant considering signing a lease, Legal Counsel, P.A. employs a commercial leases lawyer in Orlando, Florida who may be able to assist you. Our lawyer can review the lease, help you understand your obligations and rights under the contract, and help you negotiate or include better terms in your contract to protect your rights. Have questions? We have answers. Contact Legal Counsel, P.A. today at 407-982-4321.
Contact Legal Counsel, PA Before Renting Commercial Real Estate
Renting commercial real estate is a big step for any business. It is important to consider your needs and negotiate before signing any lease agreement. Legal Counsel, P.A. employs a commercial leases lawyer in Orlando, Florida who can review your lease agreement before you sign it and help you negotiate with a landlord for terms that will best serve your business interests.
If you are a landlord, your commercial lease contract is the foundation of your business and earning capacity. It is important to include provisions in your contract that protect your rights and interests. Legal Counsel, P.A. employs a commercial leases lawyer in Orlando, Florida, who can review your contract, understand your unique needs, and include the provisions in your contract you will need to protect your rights. Have questions? We have answers. Contact Legal Counsel, P.A. today at 407-982-4321.