Commercial Lease Agreements Can Protect Your Business Security
For any business that requires the leasing of commercial space, the terms of that lease are critical to the future of business operations. Successfully negotiating those terms can ensure that you have a space in which you can happily operate for decades to come.
Given the importance of a commercial lease agreement, it’s imperative to have an attorney skilled in such contracts, drafting or negotiating a document that provides the security your business needs going forward.
That same attorney can also help effectively act on your behalf in case of a dispute.
Provisions Protect a Landlord
While a lease can be negotiated to provide a secure space, that security is not guaranteed. Your lease will likely include a maintenance and repair clause that requires you to care for your rental space, repairing nonstructural problems that are a result of your tenancy.
There will also likely be certain restrictions on what you can and cannot do with the property, such as tear out walls if it better suits your business layout or conduct business in a way that disturbs other tenants, such as smoke or undue noise.
But They Also Protect You
On the other hand, a lease may prevent a landlord from increasing rent randomly, which could cause undue hardship to your business, limiting your ability to turn a profit.
Some provisions you and your attorney should consider when negotiating a lease include:
- A change in building ownership.
- A notice of foreclosure. Having a nondisturbance provision in your lease can protect you from losing your business space because your landlord failed to meet financial obligations.
- Building disrepair issues that make it difficult to conduct business. If you have to shutter your business because of a landlord’s failure to keep up building repairs, you may have a solid case for filing a lawsuit against your landlord.
- An eviction notice. If you are not in default and your lease has not come to an end, your landlord might not be able to legally evict you. An attorney can negotiate on your behalf.
You might also find yourself unable to continue operating your business at some point during your lease, either due to financial instability or for an unrelated reason. Negotiating a beneficial lease could include provisions allowing for termination or will give you the option to sublet the space, limiting your own personal liability.
Are You in Search of a Commercial Lease Agreement Attorney?
Contact the law office of Rowena Nelson, LLC via email at [email protected] or by calling (301)-358-3271 for a consultation. She and her team of skilled attorneys can help draft or negotiate documents that protect you and your business.
Located in Upper Marlboro, Maryland, Rowena N. Nelson’s offices serve the entire state of Maryland.