What commercial lease details should you carefully go over?

On Behalf of | Mar 6, 2020 | Commercial Real Estate Leases |

If you’ve begun searching for Hollywood office space, then you’ve probably discovered that most Florida landlords want to lock you into a pretty long lease. Their goal is to get you to sign a long-term contract so that they’ll know what type of money to expect for the next few years. Tenants often make the mistake of not thoroughly reviewing the commercial lease before signing on the dotted line.

The most important thing that you can do is to read your entire lease. You shouldn’t let your prospective landlord pressure you into signing it. You could regret your decision down the road. You should have an experienced real estate or contract lawyer do the same as well.

While many landlords use a standard form lease, not all do. You and your attorney will want to keep an eye out for any special language contained in it as you read over it.

You will want to double-check the rent amount, start and end dates of the lease and what for details on any special terms that you’ve agreed to. You’ll also want to see what it says about how you two will handle any disagreements that may arise as well as how increases in rent will be addressed. You’ll also want to see what the grounds for terminating the lease are and what both your’s and your landlord’s obligations are to one another.

There are many benefits to having an attorney step in to aid you in negotiating with a prospective landlord.

Most commercial tenants are required to contribute to common area fees, like maintenance and capital expenditures. Many leases may be written to prohibit you from assigning your lease to someone else or subleasing your space. These contracts may also speak about resolving differences via alternate approaches instead of arbitration. If you want to change these terms of your lease, then you need to do so before signing it, not after.

Your landlord is highly unlikely to negotiate terms of your lease in a way that is advantageous for you once you’ve signed your contract with them. This is why you’ll want to consult with a commercial real estate leases attorney early on in the negotiation process. This will ensure that your Florida contract best aligns with your wishes.