Business Law

Lease Drafting & Negotiation

If you are not knowledgeable about current market rates for renting commercial space, or if you have not carefully reviewed the lease terms before you sign on the dotted line, entering into a lease may be a costly undertaking for your business.

A lease will spell out not only the amount of monthly or yearly rent to be paid, but also the length of the lease, the right to renew and the various parts of your building for which you are liable. Among the mistakes tenants make is not thoroughly reviewing the terms before signing a lease. An example of one of the most common issues for commercial tenants revolves around heating and air conditioning. When the air conditioning stops functioning, commercial tenants are often shocked to learn they are responsible for maintenance and repairs.

If you are a landlord, your tenant will be using your facility on a daily basis. The lease you prepare should include terms making the tenant responsible for the maintenance and upkeep of your property. To ensure that your building is properly protected, you should list these obligations clearly. In the case of heating and air conditioning, at a minimum, you should stipulate that your tenant has a maintenance plan for the HVAC system.

Whether you are the landlord or the tenant, to discuss the best ways to maximize the benefits under your lease, call Meriwether & Tharp LLP at 678-879-9000.

Georgia Attorneys providing legal services in the areas of Business Transactions, Business Litigation, and Family Law, from divorce to child support, in the Atlanta metro area including, but not limited to Alpharetta, Buford, Canton, Cumming, Decatur, Roswell, Kennesaw, Lawrenceville, Norcross, Sandy Springs, Marietta, Duluth, Dunwoody, Woodstock, Milton, and Johns Creek.