Commercial disputes between a landlord and tenant can be highly contentious or even disastrous for business. It is often the case that such heated disputes stem from misunderstandings or miscommunications surrounding the commercial lease itself.
Before signing your commercial lease as a potential tenant, it is crucial that you fully understand the terms of the contract and that all necessary provisions are present. To that end, there are a few particularly important items that you should check for and review before putting pen to paper.
1. Exclusivity
Requesting an exclusivity clause in your commercial lease can be particularly beneficial if you are renting space in a mall or any other property where other businesses might crop up nearby. Exclusivity guarantees that the landlord cannot rent out to another tenant who could be a competitor to you.
2. Maintenace obligations
Before committing to your contract as a tenant, make sure the document clearly outlines which party is responsible for which types of maintenance and repair tasks. If this remains ambiguous, it is sure to cause a dispute when something goes wrong on the property.
3. Terms of transfer
No lease is complete if it lacks details on what steps you should take if you decide to leave the space. If your lease outlines terms of transfer, you can assign the lease or sublet the space in accordance with those terms without any uncertainty regarding your future payment obligations.
While certain items in your commercial lease can make or break the contract, there are many other small factors that will also have varying degrees of effect on your business. For more information, contact Zarco Einhorn Salkowski, P.A. for a free consultation.
