Our firm represents business tenants in relation to reviewing and negotiating their commercial leases. Especially in an expensive rental market like Seattle, a commercial lease can be one of the largest monthly expenditures for a small business. You can expect that the vast majority of commercial landlords are represented by an attorney in relation to the lease, who carefully crafts the lease to place the landlord in the best possible position. Commercial tenants need legal assistance too, to level the playing field. We advise our business clients regarding the sometimes complex clauses within the lease and, too, the clauses helpful to tenants that may be absent from the lease but could be added in during the negotiations.
For example, one area that can create unpleasant surprises for commercial tenants is the interpretation of the building’s operating expenses in a triple net commercial lease. At times, the lease’s definition of those expenses may be both expansive and vague. And tenants, once they are bound by the lease, find that their lease payments are much more than anticipated due to their share of payments associated with those operating expenses. It’s important for commercial tenants to spend some time with their attorneys discussing this issue, so that they can negotiate fair provisions and, also, fully understand the extent of their future financial obligations.
Once the signed lease is in place, what happens when it’s time to renew the lease? And what if there’s a dispute regarding the interpretation of a lease clause? Our firm can assist with these issues as well.
Please see our blog for more information on commercial leases:
What Business Owners Should Know about Personal Guarantees for Commercial Leases
Emergency Conservation Clauses in Commercial Leases
What do Covid-19 Relief Measures for Commercial Leases Mean for Small Businesses
Commercial leases 101: What is triple net?
Commercial leases 101: Tenant Improvements
Are You Getting a Fair Shake on those Operating Expenses?