A commercial lease is a contract that is created for renting business property from either an individual or another business. The commercial lease contract is usually referred to by other names such as commercial lease agreement, business lease, commercial real estate lease, commercial property lease, or industrial lease. No matter what name the contract is given, its function is always the same.
These agreements give a tenant the rights to use the business property for the purpose included and defined in the contract. The commercial lease contract will include a period during which those specific rules apply for that property. In exchange, the tenant will pay the landlord an agreed-upon amount for the right to use the property for business purposes.
4 Dangers to Keep Mind When Negotiating Florida Commercial Leases
A Florida commercial lease for your business is a serious commitment and should be given the importance and care it requires. Typically, they are long-term contracts that last for at least five years. No matter the size of the company or how experienced the owners are, mistakes during the planning stage for a new space and the negotiation process of the commercial lease are more common than most people think.
When negotiating commercial leases for your company, several aspects need to be considered. These are the 4 main dangers to look out for in commercial leases:
Insufficient Time
Not allocating enough time for each step in the process can lead to a commercial lease that will do more harm than good to your business.
Insufficient Planning
Closely related to the time you invest in the process is how much planning you do. The way you want to operate your business should help you determine what the location of your space should be and how your offices should be designed to best fit your needs. You need to think about how much space you will need and whether you will need any specialized space.
Lack of Legal Representation
It is crucial that you seek the help of an experienced commercial real estate lawyer to represent you throughout the entirety of the commercial lease planning and negotiation processes.
Lack of Due Diligence
The physical and legal condition of your business space can affect your operations in a significant way, and you must protect yourself by carrying out an investigation of the facts.
The Tenant-Landlord Relationship
A good relationship between landlord and tenant in a commercial lease is one of the keys to a successful business because it offers great opportunities for both parties. It not only creates a micro-economy that generates jobs and money flow but also attracts more businesses to the area. This is why, whether you are a tenant or a landlord, creating a good relationship with the other party is crucial towards making your business thrive.
How a Skilled Real Estate Attorney Can Help Your Business Thrive
If you are entering a commercial lease agreement in Miami or anywhere in the State of Florida, the first step you must take is to hire an experienced Real Estate Attorney to help you navigate the negotiation process and ultimately get the best possible deal for your business. At Jurado & Associates, P.A. you will find a lawyer that will not only provide a service to you but also form a relationship that will hopefully last for a long time.
Contact Jurado & Associates, P.A. Today!
If you need legal help, please give Attorney Romy B. Jurado, Esq. a call today at (305) 921-0976 or send an email to [email protected] to schedule an initial consultation. Let us add you to our ever-growing list of satisfied clients.
