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JEROME GERAGHTY

GLO specializes in Real Estate and Business Law, including Real Estate Transactions, Buying and Selling a Home, Real Estate Investment and Landlord Issues; Business Formation and Development; and Contractor Issues and Mechanics’ Liens

 

Commercial Real Estate Lease preparation

When entering into a commercial real estate lease, here are some key considerations:

  1. Research the Property: Visit the property and its surroundings to understand the location’s fit for your intended use. Review zoning to ensure the property’s suitability.

  2. Understand the Landlord: Investigate the landlord’s reputation, financial stability, and credit risk.

  3. Specify the Lease: Ensure the lease includes:

    • Rent: Amount, due date, and late fees.

    • Security Deposit: Amount, usage, and storage.

    • Renewal: Terms and conditions for automatic renewal.

    • Maintenance: Allocation of maintenance and repair costs.

    • Usage: Permitted and restricted activities.

    • Dispute Resolution: Agreed method for handling disputes.

    • Termination: Conditions for lease termination.

    • Subleasing: Whether subleasing is allowed.

  4. Inspect the Property: Personally inspect the space to confirm it’s in acceptable condition before signing.

  5. Comply with Laws: Verify that the property meets all applicable laws, including zoning, ADA compliance, and local regulations.

  6. Understand Insurance Requirements: Commercial properties require insurance, which is typically a contractual requirement.

GLO’s experience in commercial real estate can help you navigate these aspects and avoid common pitfalls, ensuring a smooth leasing process.

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