landlords, the role of the real estate lawyer is to prepare
a fair Lease Agreement that adequately protects the landlord.
The real estate attorney will also represent the landlord in
disputes with tenants, including working out solutions with
tenants who fail to make rent payments. This is particularly
important in the current market.
For tenants, the real estate lawyer may help prepare a Letter
of Intent to ensure that the landlord and tenant initially agree
to some of the most important terms of the lease arrangement.
Then, the real estate attorney reviews the proposed Lease Agreement
before the tenant signs the agreement or pays any rent or deposits.
The real estate attorney helps ensure that the agreement is
fair for both parties and not unnecessarily one-sided in favor
of the landlord. If the lease needs modifications to make it
fair, then the real estate lawyer assists the tenant with negotiations
with the landlord.
The extent and focus of the lease attorney’s review and
legal analysis of the Lease Agreement may depend upon factors
such as: the size and experience of the tenant; the size of
the leased premises; the amount of rent; and, of course, the
prospective tenant’s preferences.
Following are summaries of few important matters that may be
treated in a Lease Agreement:
Permitted Use Clause - the clause that describes the tenants
permitted use of the premises
Exclusive Use Clause - the clause that describes the lines
of business in which the landlord agrees not to allow other
tenants to compete with you
Prohibited Use Clause - the clause that describes the products
or services that may not be offered from the leased location
Relocation Clause – If this clause exists, it may give
the landlord the right to relocate the tenant to another location
within the landlord’s shopping center.
Late Charges and Defaults – It is important to focus
attention on the provisions that give the landlord the right
to terminate the lease. These are even more important than
provisions that may give the landlord the right to impose
late charges when rent is late.
Other – There are several other important matters covered
in a typical lease. Landlords and tenants should be sure to
express to their real estate attorneys areas they consider
to be of greatest importance.
Contact Peak Law Group's real estate attorney - commercial
lease attorney in Portland, Oregon for more information!