SP Garrett Lawyers have over 35 years of experience assisting business owners, big and small, with their lease agreements. Whether your business is well established or whether it’s just getting off the ground – you can trust in SP Garrett Lawyers.
A business property lease or commercial lease is a legally binding contract between a business owner and the owner of the real estate property.
These documents are a good deal more complicated than residential leases, because the lease is usually heavily customised to the individual situation. The lease terms and conditions need to be very carefully read to make sure that they match the needs of your business, as any mistakes at the beginning could make or break your new business.
Yes, lease terms are often negotiable. The specific terms or restrictions which may be up for negotiation include the rent amount, rent increases, the duration of the lease, the modifications you can make to the property and whether you can transfer or assign the lease.
This is hard to answer without knowing your specific situation and your business requirements. Some of the common things we find we need to discuss with clients include:
Please seek legal advice before you make any commitments, including signing an offer, paying a deposit or moving anything you own into the property.
First, find your lease documents and read them carefully, making sure that you completely understand the legal terms and conditions.
Secondly, make sure you understand your legal rights and responsibilities and those of your landlord.
Then consider the options, which include negotiation, mediation, and court action.