Commercial leasing lawyer

5 important things to know about commercial leasing lawyers

First, what is a commercial leasing lawyer?

It’s a big step to enter into a commercial lease, and one which hundreds of Australian businesses take every day. Whether you’re opening a café, a retail shop, an office, a shopping precinct or industrial premises, you’ll need to do so under the terms of a commercial lease.

A commercial lease is a legal document outlining the rights and responsibilities of both the tenant and the landlord of commercial (or business) premises. It is a contract for the rental of the commercial premises by the tenant. It will include items such as:

  • The length of the lease
  • The rental amount
  • When rent is to be paid
  • What is expected of the tenant
  • What the landlord will and won’t do
  • Any further terms

While a commercial lease is similar to a residential lease, there are also a number of different considerations which the landlord and tenant will need to be aware of.

A commercial leasing lawyer will assist businesses with all aspects of the law relating to the process of commercial leasing.

What services do commercial leasing lawyers provide?

Commercial leasing lawyers provide a specialised range of essential services for both landlords and tenants entering into a commercial lease agreement.

They will advise on a wide range of issues relating to the terms of a commercial and business premise lease, and will provide you with expertise to help the process of commercial leasing run smoothly and effectively.

For tenants, commercial leasing lawyers will:

  • Review your lease before you sign it, to ensure that your rights are protected
  • Help you negotiate aspects of your lease and pre-let arrangements to get the best possible terms and conditions
  • Provide you with necessary advice to resolve any leasing matters
  • Help you renew existing leases
  • Help you review your rent
  • Help you terminate your lease
  • Help you obtain approvals
  • Ensure all obligations are complied with
  • Provide lease dispute resolution

For landlords, a commercial leasing lawyer will

  • Draft your lease so that it protects your interests
  • Provide you with necessary advice to resolve any leasing matters
  • Help you negotiate aspects of your lease and pre-let arrangements to get the best possible terms and conditions
  • Help you renew existing leases
  • Help you manage the legal aspects of your commercial investment property
  • Help you maximise the return from leasing premises
  • Enforce breaches of the lease
  • Help recover possessions and remove unauthorised occupants
  • Coordinate insurance and bank guarantees
  • Ensure all obligations are complied with
  • Help you obtain approvals
  • Assign the lease
  • Provide lease dispute resolution
  • Assist with registration and termination of leases

Do I need to use a commercial leasing lawyer when signing a commercial lease?

It is extremely important to gain legal advice before entering into a commercial lease, so that the rights of both parties are protected and not exploited, and to help both parties understand their responsibilities.

Commercial leases can sometimes bind parties for 15 years or more, so it’s essential that the lease is drafted by an experienced commercial leasing lawyer.

Commercial leases can be quite complex, and cover a wide range of items. The use of a commercial leasing lawyer will help avoid any discrepancies that might arise from a breach or misunderstanding of the contract; and as such is invaluable.

It is important to customise your lease to reflect your specific circumstances and requirements, something a commercial leasing lawyer can do fairly and effectively.

Both tenants and landlords need to have certainty surrounding the terms used, and to avoid hidden costs or conditions. A good commercial leasing lawyer will ensure that there are no hidden factors which may adversely affect your business.

A well-drafted lease will protect and benefit both parties. Thus, all parties entering such an agreement should seek legal advice to ensure their rights and obligations are understood, and their legal and commercial interests are protected prior to entering the agreement.

As well, a commercial leasing lawyer will minimise the stress involved in the process by doing all the legwork for you correctly and professionally.

How much do commercial leasing lawyers cost?

The cost will vary depending on the experience and expertise of your chosen lawyer, so it’s wise to contact your lawyer to determine the likely cost. Keep in mind however, that good lawyers pay for themselves, in terms of maximising your investment and saving you money over the years.

Does the process of commercial leasing differ from state to state?

Yes, it does. In Australia, each state has a different approach to commercial leasing regulations, and thus different legislation applies. To make sure you’re getting correct and relevant advice, you need to ensure that your commercial leasing lawyer has experience and knowledge of the legislation and processes in your state.

If you require assistance with any aspect of commercial leasing, contact GM Law today

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