Commercial Leasing
Leasing a commercial property is not a game for new players!!! There are many traps for the uninitiated and the consequences of signing a lease without considered legal advice may produce serious consequences.
Byron Bay Property Lawyers can assist you with drafting a lease (if you are a landlord) and reviewing a prepared lease if you are a prospective tenant?
We can advise you in relation to the matters of:
- GST, whether it is payable and who pays?
- Land tax liability and whether the lessee should pay
- The number of option terms and their duration and the formula for applying rent increases
- How to retain the rights to develop the premises in the future if you are a landlord
- What circumstances may prevent a lessee from renewing the option for a further term
- What insurances are required
- dispute resolution
Get commercial property leases with an expert real estate lawyer
It can be incredibly exciting to begin a new business. Entrepreneurs often spend months hunting for equipment and facilities that are just right for their companies. This typically involves pouring over every tiny detail of the layout and amenities of the building, carefully thinking about how it could affect operations or make the experience of the customer better.
Once the perfect space is found by a startup and a landlord willing to rent it out, it is easy to be tempted to sign a commercial property lease immediately. However, it is a much more complicated and nuanced effort to execute a commercial property lease than to enter into a typical residential rental agreement.
As a result, working with a qualified real estate lawyer when working out the terms of a commercial lease is critical. A commercial real estate lawyer may help you negotiate this procedure and avoid the big errors that can be made by buyers or sellers or address any challenges you can experience.
Why do you need a commercial real estate lawyer?
It is not necessarily a simple task to purchase, sell, fund or develop a commercial property. Before every deal is done, several procedures must occur. On top of that, for the procedure to be legitimate, there are hundreds of laws and regulations that must be followed. Many of these interventions will be taken care of by our team of commercial real estate lawyers for you. They consult you on the legalities of land use and development to construction, finance, environmental concerns, zoning, taxation, title insurance and other measures.
Our commercial real estate lawyers assist you in negotiating the deal, analysing a contract, clarifying the purchasing agreement and promoting closure. We also assist in detecting suspicious contract conditions or finding a possible pitfall. Our commercial real estate lawyers will have a trained eye to spot an issue and address it immediately. They can address any concerns that may arise or make a decision at any stage of the buying and selling process. Our commercial real estate lawyers can effectively make buying or selling a property an activity that is infinitely less stressful.
Hiring a good real estate lawyer for your commercial lease
Essentially, you don’t spend money; you protect your money. Some people think that there are just unnecessary costs for lawyers. But if you look at how much money you’re going to spend on renting your commercial property, then you know how silly it would be not to get your interests represented by a commercial leasing lawyer. To reduce potential costs and protect your investment, it is cheaper and safer to employ the services of a commercial real estate lawyer now.
Commercial real estate lawyers can turn the contract to benefit you.
By helping you land a good deal on your rental from the outset, our commercial real estate lawyers help business owners set themselves up for success. A commercial property lease is a legal contract which can be difficult and costly to alter. Some commercial property leases last for decades, and before any real estate deal is signed, it is in any entrepreneur’s best interest to bargain shrewdly. Sometimes in return for a longer lease period for a commercial property, landlords can discuss expenses such as electricity, maintenance costs, taxes, and security deposits. While monthly cost savings can sound like a good idea at the time, the terms of the fine-print lease can spell disaster.
It is incredibly beneficial to have an unbiased and disciplined advocate during any contract negotiation who does not let emotional reactions or attachments affect business decisions. This sort of impartial ally in the decision-making process is invaluable when it is the company you’ve built from the ground at stake. After hiring our commercial leasing lawyer to help negotiate conditions for commercial leases, companies are more likely to agree on terms that are beneficial to the company as a tenant, which may prove to be an integral element of the company’s long-term success.
Commercial property leases formulated by prospective landlords frequently contain legal provisions which are detrimental to prospective tenants. For example, landlords typically use terminology about confession of judgement in commercial property leases, which state that a tenant assumes responsibility preemptively for future disputes down the road. It is in terms of common area maintenance, renovations and upgrades that is included by landlords, breach of contracts, insurance, the release of liability, rent and other aspects that may affect the legal and financial terms of the company. Almost every clause that a landlord writes, it includes the factors in a commercial property lease.
Why do you need our expertise?
Good advice from our local commercial real estate lawyers can save the time and cost of unexpected problems for your business, which often occur in times of change. Most frequently, lease agreement problems do not come to the forefront until after the commercial property lease is signed, when lease conditions are far more difficult to alter than before the contract was signed. Given the multitude of other problems that are likely to be on your mind as a new entrepreneur when you settle into a new business space, hiring a commercial leasing lawyer is well worth the trouble. Before you seal the deal, someone qualified to decode legal language in commercial property lease will help make sure you understand what you and your company are getting into.
It is a matter of simple due diligence to employ a commercial real estate lawyer to look at a commercial property lease for your business. There are a variety of steps you can take when recruiting a commercial real estate lawyer to get the best out of the partnership. Make your expectations plain from the outset. Note down items of importance like whether you will you be able to change the space that you are going to use significantly, or whether in return for decreased rent, would you prefer to make your own repairs and improvements?
Benefits of working with Byron Bay Property Lawyers
Local, state and federal rules, along with complicated contractual terms and the need to account for numerous potential contingencies, can come into play. Not every property lawyer is equally skilled to handle this type of transaction’s complexities. However, in this arena, the commercial real estate lawyers in our firm have conducted several transactions and are well-versed in the criteria and the potential pitfalls.
You can leave the legalities to us and be assured that our team can bring their vast expertise in this area to act and obtain the best possible outcome.
Contact Us today and let us take care of those legal nitty gritties!