If you’re looking to rent an office space for your business, there are many factors you must consider. Choosing a location is a huge step, and it’s important to make sure that you’re protecting yourself when you decide to rent an office. Many small business owners make the mistake of neglecting the legalities of leasing an office space. As a result, they end up putting themselves in a tough position.
A commercial real estate attorney can help you ensure that you’re protecting yourself when you’re renting a space for your business. This post will give you three signs that you should hire an attorney that can help you navigate the legal aspects of renting an office space.
1. The Leases Are Confusing
When signing a lease, many entrepreneurs make the mistake of assuming that the lease they are signing is just a basic, boilerplate document. They don’t think they should bother reading through it carefully. Even if they do read the lease, they don’t understand the legal language in which it is written.
The reality is that these leases are drafted by attorneys working for the landlord. This means that they create the document in a way that benefits the landlord, not the tenant. As a result, you might end up agreeing to terms that are not fair to you.
In some cases, the lease may stipulate that you are required to perform all of the required maintenance on the building. You may even be held liable for any issues that arise while you are renting the space. Hiring a lawyer can make it easier to negotiate an agreement that does not put you at risk.
2. Your Lease Has A Tenant Improvement Allowance
Some leases include a tenant improvement allowance that empowers you to make improvements on your office space. This is important because you want to ensure that your space is customized in a way that reflects your business.
If you’re going to make improvements, you should know how the construction is supposed to proceed. Some landlords will require you to use contractors that they approve. An attorney can help you work out an agreement where you can determine how improvements should be made. Additionally, it’s important that you make sure that your landlord isn’t able to arbitrarily make changes to your office space without approval. You should be able to have a say in the changes that are made to your building.
3. You Don’t Understand The Terms Of Your Lease
It’s important that you can have control over the terms of your lease. Some leases have terms of five to ten years. You need to figure out what terms work best for you. If you expect that your business will grow at a rate that causes you to outgrow your space, you need to be able to move without paying hefty fees.
A real estate attorney, like Roth Fioretti LLC (illinoislawyers.com), can work with you to help you decide what types of terms your business needs. You don’t want to end up with terms that lock you into a period that doesn’t work for you.
If you’re ready to rent an office space, your business is growing. It’s a good sign — but you have to make sure you’re making the right decision. A commercial real estate attorney can help you avoid many of the pitfalls into which many entrepreneurs sink. Contact an experienced attorney who can help you protect yourself.