For 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:
Use Clauses:
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!
|
