As a small business owner, one of the things that you may need to do is to lease a property for your business. This property is where you’ll grow your business, see clients and do what you can to bring in a profit. The last thing you want is to have a disagreement about the lease or its terms.
This is why it’s a good idea to understand business law and leasing before you sign a contract. Your lease should be designed in a way that benefits you and that doesn’t leave you in a difficult position if your business wants to move or end the lease early.
Why do commercial lease disputes happen?
Commercial lease disputes usually occur when a landlord makes a claim against the tenant. For example, they may claim that the tenant didn’t pay or charge a fee for a late payment that the tenant claims never occurred.
Other common causes of commercial lease disputes include:
- Disagreements over shared spaces
- Disagreements over utility costs or payments
- Maintenance and repair issues
- Withholding rent
To help avoid trouble with your commercial lease, it’s a wise idea to have an attorney review the lease before you sign it.
Commercial leasing is different than residential
As a business owner, you should know that commercial leasing is different than residential. Normally, these leases are made for longer, such as a two- or five-year period, and they may have unique terms. For example, if you lease a space in a mall, you may be required to take care of part of a shared space, even though it’s not technically a part of the storefront. Checking for small requirements and agreements like this may help you avoid trouble later.
If you have a problem with a lease that is presented to you, don’t sign it. You have the ability to negotiate with the landlord to come up with an agreement that suits you both. Agreeing to terms, and later having a problem with those terms, makes a much more difficult situation for you if trouble arises.