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Top Tips for Negotiating Commercial Leases - #10 Engage an Attorney
You wouldn't go to court without an attorney, but you are likely to end up in court a lot faster if you don't engage an attorney when drafting legal documents. More importantly, if you don't use an attorney when negotiating the lease language, your lease will be one-sided and heavily weighted to the landlord's advantage.
Leases are generally written by landlords and you have to use the landlord's form or they won't lease you the space. Only in rare situations with extremely large companies will landlord's agree to use a lease form of the tenant's chosing.
So engage an attorney to review the lease document on your behalf. While the tenant rep broker should review the lease language and should weigh heavily in the lease language negotiations, he doesn’t replace the need for an attorney. They approach the lease document from different perspectives and should act as a team improving the lease to the tenant’s advantage. Both are vital and neither replacese the other.
For example, an attorney is going to be critical at protecting the tenant from legal liabilities while the tenant representative should review the lease from the perspective of the practical landlord/tenant relationship.
So how do you ... more
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