Like any contract, a commercial lease specifies the legal details of a relationship between two or more parties. It must be comprehensive, detailed and clear.
Many of our clients for business law in the GTA face commercial leasing difficulties due to poorly negotiated, poorly drafted or poorly understood leases. New businesses are especially vulnerable, as many new business owners are not aware of the common problems that come up in commercial leases, or do not understand that most commercial standard leases are drafted to protect the interests of landlords, and not tenants.
At Altmid Roll & Associates, we make an effort to get to know your business and your priorities. We then provide you with commercial leasing advice that covers the basic lease terms while also specifically addressing your priorities and concerns with respect to your business and your future plans.
We Read the Fine Print on Your Commercial Lease
Our lawyers will look over the clauses in your commercial lease that may cause you trouble in the future, such as:
- Termination clauses, which can disrupt a business when a landlord wishes to terminate, or when a business wishes to move to better premises and faces significant penalties.
- Commercial lease terms and renewal provisions.
- Security deposits.
- Liability obligations.
- Responsibility for common-area upkeep.
- Restrictions on similar businesses within a certain distance of your own.
- Responsibility for repairs, which can cause significant costs to your business.
- Rent abatement during repairs or construction.
- Rent increases.
- Restrictions on the use of the property.
- The right of the landlord to relocate tenants.
- Right to assign or sublet your premises.
- Guarantee and indemnity provisions.
We can help you understand your rights and responsibilities in a commercial lease, negotiate for better lease conditions, and help you explore your options if your business is suffering because of your current lease.
Contact Adam Altmid today at 416-663-6888 or by email at firstname.lastname@example.org to learn more about our commercial leasing support services in North York, Toronto and surrounding areas including Vaughan, Mississauga, and Scarborough.