Entering a commercial lease agreement is quite a big step for anyone, especially those who have no experience with the complexities of a commercial lease and negotiating their terms. whether you’re opening a restaurant, a car wash, or an office, you need to understand everything there is to know about a commercial lease. This is where a commercial lawyer with experience can help guide you through all the documents and processing needed. Before hiring anyone, you also need to know a few things about commercial leasing lawyers. Here are a few of them:
What does a commercial lawyer actually do?
Commercial lawyers protect the rights of people or entities in commercial incidents related to corporate ownership, commercial lease disputes, , and ensuring that the deal is legitimate. Working with a legal professional that’s well-versed in commercial and property law will make it easier for you to safely complete deals, shield your interests from litigation, and represent you in the case of a dispute.
Why hire a commercial leasing lawyer?
If you’re about to enter a commercial lease agreement, you need all the advice you can get before signing anything. Any commercial transactions that occur without a lawyer’s presence increase your risk of being sued, scammed, or getting the raw end of the deal Here are a couple more reasons why you need to hire a lawyer of your own:
1. Protecting your interests
A commercial lawyer is responsible for protecting your interests and ensuring that any agreement or contract you are about to enter into is enforceable and fair. They have the knowledge and the expertise to advise you on what decisions are in your best interest. You’ll be able to make more informed decisions if you have a lawyer by your side providing insight and expert advice on the rights and obligations of both parties to your lease.
2. Overseeing all the paperwork
There are many documents involved in the working and finalising of a commercial lease. Your lawyer should be able to help you with all the documentation, especially reviewing and signing the lease agreements. Commercial lawyers are equipped to understand these documents and find any possible mistakes, loopholes, or conflicts that could be problematic for you or materially impact your business.
3. Saving time
As a business owner, the number of responsibilities that fall on your shoulders is quite a lot, and you haven’t even opened your new establishment. Dealing with a lease agreement alone could take up a lot of time and effort, which you could be using on other preparations for your business. Your lawyer can simply study all the legalities involved in your lease and let you know what’s the next best course of action. You’ll be able to save a lot of time and focus on other aspects of your business.
4. Negotiating on your behalf
From reviewing the rent to ensuring all obligations are complied with, your lawyer will be able to take care of all the leasing matters for you, including the negotiations. This is a great benefit as not all business owners may be experienced with negotiating terms for their lease. If the rent seems too high or if the deal sounds too good to be true, your lawyer will know what to do and how best to approach the other party.
5. It can be mandatory
If your lease is a Retail Shop Lease as defined by the Retail Shop Leases Act 1994 (Qld), then you are required to obtain a ‘legal advice certificate’ prior to the commencement of your lease. Ensuring you engage a lawyer who can review your lease and provide this document with speed, accuracy and efficiency is critical to ensuring you secure the right premises for your business.
Conclusion
Commercial leasing lawyers provide a specialised range of essential services for both landlords and tenants who are about to enter a commercial lease agreement. If you find yourself confused or stuck on what to do with your lease agreement, having the help of a lawyer always helps.
GLG Legal is an ambitious and innovative commercial and property law practice based in Brisbane. Unlike other law practices, we are driven by innovation, ideas, and results, not by legal traditions. Whenever you need legal help on commercial conveyancing, company law, intellectual property disputes, and franchising, GLG Legal is at your service. Contact us today to schedule a consultation.