If your business is considering renting a space, or if you are considering leasing property that you own to a business, it is important to have a good commercial lease in place in order to protect your interests. Relying on informal verbal agreements and default rules when leasing commercial space is a risky venture, even if dealing with related parties or businesses. A proper commercial lease can address many issues such as what the property may be used for, what alterations and improvements may be done, how taxes and other expenses will be apportioned and, of course, the amount of rent. Importantly, a good commercial lease will also dictate what happens at the end of the term and in the event of a breach of the lease by either of the parties. Addressing these issues up front in a commercial lease may help you avoid significant difficulties down the road and will help ensure a successful landlord-tenant relationship.
The attorneys in our Real Estate Department have significant experience in drafting, reviewing and negotiating commercial leases in a variety of contexts. Our real estate attorneys will work with you to ensure that your commercial lease meets the unique needs of you and your business. If you are considering renting a commercial space, regardless of whether you are a landlord or a tenant, please contact (i) Tom MacNeely, the Department’s Chair (firstname.lastname@example.org), (ii) Dan Taroli (email@example.com), or (iii) one of the other attorneys in the Department to ensure that you have the proper commercial lease in place that works for you.