Blog Article

Commercial lease agreements are essential for most businesses. For North Carolina entrepreneurs, it's important to understand these agreements to secure a good lease and avoid legal issues. At Searson, Jones, Gottschalk & Cash, we help individuals and businesses with real estate transactions, including commercial leases. Here's a simple guide to the key parts of commercial lease agreements and how our expertise can help you. And if you’re in the market for real estate lawyers in Asheville, NC, we would love to earn your trust and assist you with all your real estate needs.

‍

Elements of a Commercial Lease Agreement

#1 Lease Term

• Duration: Decide how long the lease will last and what options there are to renew. Make sure the lease term fits your business plan and growth goals.
• Early Termination: Know the conditions for ending the lease early and any penalties that apply.

#2. Rent and Expenses

• Base Rent: Know the base rent amount and how it will increase over the length of the lease, including renewal terms
• Additional Expenses: Be aware of additional costs that you will likely pay—maintenance, property taxes, insurance, etc.

#3. Space and Usage

• Premises Description: Make sure the lease clearly describes the space you're renting, including the square footage and any shared areas.
• Permitted Use: Check that the lease specifies what the space can be used for, and make sure it matches your current and prospective business needs.

#4. Modifications and Improvements

• Tenant Improvements: Find out who is responsible for upfitting and making changes or improvements to the space. Negotiate the terms for any allowances for these improvements.
• Maintenance and Repairs: Make sure you know who is responsible for various maintenance and repairs—the landlord or the tenant.

#5. Assignment and Subletting

• Transfer Rights: Check the terms for assigning the lease or subletting the space to someone else. This is essential if your business needs change.

#6. Default and Dispute Resolution

• Default Terms: Understand what actions count as a default under the lease for both tenant and landlord, and what remedies both the landlord have.
• Dispute Resolution: Make sure the lease clearly outlines how disputes will be resolved, whether through mediation, arbitration, or litigation.

#7.  Premises Damage and Landlord Access

• Destruction:  Know who is responsible for repairing your space if its damaged or destroyed, and make sure there will be rent abatement or an option to terminate the lease.  
• Landlord Access:  Make sure that the lease clearly outlines when and under what circumstances the landlord can access the space

‍

How We Can Help

Navigating a commercial lease agreement requires careful attention to detail and a thorough understanding of real estate law. At Searson, Jones, Gottschalk & Cash, our experienced attorneys provide the following services:

• Lease Negotiation: We help you secure favorable terms to protect your interests.
• Contract Review: Our team reviews lease agreements to spot potential issues and ensure they comply with North Carolina real estate laws.
• Dispute Resolution: If conflicts arise, we offer effective legal strategies to resolve them quickly.
• Legal Counsel: We provide ongoing legal support for every stage of your commercial lease, from initial negotiations to renewals or terminations.

‍

Business Attorneys in Western North Carolina

When taking on any business venture, you want to make sure that you’re doing everything you possibly can to meet your business needs and goals—including your commercial lease agreement. By fully understanding the key parts of these agreements and getting expert legal advice, you can handle the complexities with confidence. At Searson, Jones, Gottschalk & Cash, we provide smart solutions to your real estate challenges, leaving you with a successful and secure leasing experience. Contact us to day to get started, we look forward to working with you!