Some of the nearly countless million Americans who have executed one or more residential leases in their lives have of course jockeyed a bit with their landlords on a relevant contractual point or two.
Heavily negotiating a residential lease is rare, though, and spells an attempted would-be lessee tactic that landlords don’t often expect to see.
Notably, just the opposite is true in the realm of commercial leases. We have noted in a prior blog post at the established Tarantino Law Firm in Buffalo “the importance of give-and-take and negotiating acumen prior to lease execution.”
Why are proven attorneys advisable for commercial lessees?
An in-depth online overview of commercial leases succinctly answers that above header question by underscoring lawmakers’ and judges’ reasoned expectations concerning contracting parties of such agreements. They are considered to be knowledgeable business participants who don’t require the same protections that residential lessees do.
Given that assessment, parties negotiating commercial leases are typically given wide latitude over contractual terms and conditions. That freedom can promote an advantageous outcome for an astute negotiator, yet also yield stark downsides for a less careful individual or business group (most often a tenant/lessee). Practiced business attorneys can play a vital role in helping clients secure optimal lease outcomes.
What do lawyers scrutinize in commercial leases?
Short answer: everything. A business principal allied with an experienced legal advocate can fully expect the latter to zero in on everything from rental considerations (amount, increases, security deposit, lease length) and improvements to use/exclusivity, assignment/subletting and more.
A well negotiated and executed commercial lease can improve a business principal’s bottom line for years to come. Conversely, lease-linked downsides can be a perpetual drag on an enterprise and hamper growth and productivity. Timely and knowledgeable input from a skilled attorney team can help foster the former outcome.