Commercial leases can have tons of complex legal issues involved with them. Protect yourself by having your lawyer in Tampa with you. Your local Tampa lawyer can help negotiate and review your commercial lease. Take a look at some reasons why you will want your local Tampa lawyer with you when signing a commercial lease.
- Landlord Advantage
The terms of the lease are written by the landlord or their lawyer. So, right off the bat they are at an advantage. This means don’t go in blind. Instead, have an experienced lawyer review the terms. They can easily spot any difficulty areas or potential issues that may arise. Having an expert pair of eyes looking over the terms can really help you out.
Don’t assume that the lease agreement was drafted for you. Many landlords often deal with tons of paperwork for various properties. They may use prior leases as a framework for the new lease with you. This means that previously negotiated terms from prior leases can still be in there. They may not matter to your lease or they may actually be detrimental. Therefore, have your lawyer look over the lease agreement to make sure everything is in line with the agreed upon terms.
- Personal Guarantees
You will always want to protect your personal assets from being liabilities. A personal guaranty will be something that will remove your protection of your personal assets to being a liability for your company. Carefully review your lease to ensure that your personal assets are not exposed and that you just didn’t sign away your protection.
- Common Area Maintenance (CAM) Charges
Think of these charges as HOA fees. These are paid on top of the rent that you already are paying. These charges are to ensure that all the tenants share in the cost of the common areas. This includes security, landscaping, striping the parking lot, and etc. Here you will want to be careful. Make sure that you aren’t being charged for things that you shouldn’t be paying for. Also, take a look at CAM fees for the previous years. See what amount you should expect and what looks suspicious. Finally, make sure you understand how your CAM charges are being measured. Is it by rentable square feet or total rented square feet?