The negotiation of commercial leases for office, retail, warehouse, and industrial space is an involved, complex legal process. As you consider such a lease, consider also the professional help of a real estate solicitor. Even the negotiation of lease renewals or subleases is quickly made complicated over time, and you deserve the peace of mind a trained real estate solicitor brings to the table. Consider just a few of the reasons to get the hired service of these dedicated men and women as you go through your commercial lease, sublease, or lease renewal. Regardless of the size of your business or how long ago you established it, you stand to gain financially when you hire a real estate solicitor.
Leases Are Rarely Drawn in Your Favour
Your real estate agent or broker may insist they have read over the lease on your behalf and maintain you have little to worry about. What they fail to mention is that these leases are drafted by landlords and their attorneys, and thus, the lease is heavily leaned in their favour rather than yours. What your broker dismissed as nothing to worry about may in fact contain obligations and responsibilities you are unaware of or fail to address completely. Real estate solicitors in London are specially trained to spot these potential frustrations before they create any negative impact on your commercial lease. You deserve peace of mind in every avenue, and a real estate solicitor is your best chance to achieve this.
Negotiations Are Simpler
A commercial lease can be anywhere between five and ten years, and this is not unusual by any means. With the rental market constantly fluctuating, it may be in your best interest to negotiate a five-year lease with the option to renew, rather than commit yourself to a longer lease. You may wish to lease a smaller space with the option to expand in the future, and your real estate solicitor is experienced in such negotiations. You built your business from the ground up with the strength of your own work, and you deserve to know that any lease you sign is negotiated without your landlord receiving all the benefits. The success of your business is at stake, and thus, it is imperative that you bring professional, unbiased support to your network.
Determine Insurance Responsibilities Now
You are a commercial tenant, and as such you must be absolutely clear on who is responsible for casualty and fire insurance. You must also understand whether you must carry business interruption insurance, and how much you are required to carry. All these issues and more are carefully looked over and handled by your commercial real estate solicitor. A solicitor can be added to your team at any point in the life of your business, but it is in your best interest to hire a firm sooner rather than later. Landlords place their needs first every single time, but your attorney’s livelihood is found in your success. Before you sign any lease, you must consider the importance of a real estate solicitor and the expertise they bring to the table.
