Landlords and tenants have different interests when it comes to negotiating a commercial lease. Both parties have a lot to gain from getting professional legal advice so that the lease agreement is fair and reasonable for everyone. Here are four ways a lawyer can help you with commercial leases in Australia.
1. A Lawyer Can Help Negotiate Terms Of Commercial Leases
When you negotiate the terms of a commercial lease, your lawyer will make sure that there are enough safeguards to protect your rights as either a tenant or landlord. They will also ensure that the terms are relevant and fair in relation to the nature of the business and the way it is conducted. For example, if you run a large restaurant, then you won't just be paying rent based on floor space, but also based on how many seats you need for customers and how many people you employ. Your lawyer will negotiate these additional costs on your behalf to ensure that your business doesn't get hit with hefty expenses it can't afford.
2. A Lawyer Can Help Arrange Repairs And Maintenance Regarding Commercial Leases
Your lawyer will also help you negotiate who is responsible for things like repairs, maintenance and renovations. This is especially important if you're renting an old property that needs substantial maintenance work before it can be used commercially. An experienced commercial property lawyer can help organise this by producing clear documentation that spells out who is responsible for which maintenance tasks and when they need to be done by.
3. A Lawyer Can Help You Make Sure That Commercial Leases Are Legal
First of all, you need to make sure the lease is legal. The landlord can't just throw together a lease on their own and make you sign it. If they do, then it could be worthless if there are ever any problems with the lease.
A lawyer can help you make sure that the lease is legal and binding and that both parties can be held accountable if there are ever any problems with the lease. The lawyer can also help make sure that everything in the agreement is spelled out as clearly as possible, so there won't be any confusion later on.
4. A Lawyer Can Help You Make Sure That Commercial Leases Don't Have Hidden Costs
Commercial leases often come with clauses that allow for rent increases or other charges during the term of the lease. A lawyer can help you identify these clauses and negotiate them so they clearly outline what conditions will trigger rent increases, and how much they will be increased by.
To make sure you understand the legalities of your commercial leases, contact a professional for more information today.