Protect Yourself: Review Your Commercial Lease Before You Sign!
Even the most simple commercial space is usually leased by way of a commercial lease. These leases often involve thousands of dollars of commitments. Having a commercial lease review done by a commercial real estate lawyer can save your company money. A lease review can also, at times, save you thousands of dollars personally. Call the Commercial lease review lawyers at Kahane Law Office Today; before your sign your lease. 403-225-8810
Why Is It Important to Have A Commercial Lease Review?
Money and liability are the two main reasons why you will want to have a lease review done before you sign a lease. While landlords often draft leases in their favour, there is often opportunity to negotiate them. After
your commercial lease review, you will know which terms you should negotiate. There are key commercial lease clauses that you must understand to protect yourself. Even if a landlord is not willing to negotiate the terms of your lease, then you will know your potential liabilities under the lease. In most cases, these liabilities extend well beyond the cost of the monthly rent. Many of these potential liabilities, that can range in the thousands and tens of thousands of dollars, are not immediately clear under the lease.
What About Personal Guarantees?
A personal guarantee lets a landlord get around the liability protection that you get from your company. This means that if your company defaults on you commercial lease, that you become personally liable for any amount outstanding. A lease review will let you know exactly what your potential liabilities are. Your lease review lawyer may even be able to limit your liability. Again, it is very important that you connect with us before you sign anything.
put an obligation on you to do certain things (that often can cost you money);
prevent you from doing certain things that you may need to in your particular business;
limit / know how much competition you will have around your lease space;
restrict what you actually get / do not get under the lease;
limit you in your marketing.
Cost of Commercial Lease Reviews
The cost of having a lawyer look over your commercial lease in Calgary does not need to be prohibitive. We offer flat rate fees for most reviews. We will usually need to see the lease to give you a quote. This is because some leases are four pages long and some are 40 pages long. In almost all situations, the liability under the lease will far exceed the cost of having a review done.
Lawyers For Reviewing Your Commercial Lease in Calgary, Alberta
We want you to have peace of mind. The only way this happens is if you fully understand the lease for your commercial space before you sign it. A commercial lease review will allow this as we will sit down with you and explain the lease in plain English. Protect Yourself. Protect Your Company. Call us today at 403-225-8810 locally in Calgary, Alberta, we can be called toll-free at 1-877-225-8817 or email us directly here.