Experienced Commercial Leasing Lawyers serving Vernon and southern B.C.
A commercial lease is a legally binding, written agreement between a landlord and a business tenant. Leases allow tenants to use a commercial premise to run their business for a specific period of time. A commercial lease is often one of the largest expenses a business will incur. Drafting and negotiating the terms of a commercial lease, therefore, requires extremely careful consideration of the obligations and rights of both the landlord and tenant. Without knowledgeable representation during this process, a tenant, in particular, could find themselves disproportionately burdened with costs and responsibilities or lacking rights throughout the term of the lease, which may span several years.
Business Acumen and Extensive Real Estate Experience
At Cherkowski Marsden LLP in Vernon, we draw upon our extensive corporate law and real estate law experience to assist our business clients with all aspects of negotiating and finalizing their lease agreements. We take care of the fine print, logistics, and negotiations to secure an optimal space for your venture so that you can run your business stress-free. We can assist on a one-time transactional basis, or we can be retained on an ongoing basis to help with multiple lease agreements as your business grows, re-negotiating terms if your business needs change, and assisting with dispute resolution if any problems arise with your landlord.
Understanding Commercial Leases
When negotiating a commercial lease, it is important to clearly establish the rights and obligations of the landlord and tenant. Factors to consider include:
- Rent payments;
- Repair clauses;
- Leasehold improvements;
- Escape clauses;
- Sublet clauses (i.e. are there restrictions on assigning or subletting the premises?);
- Options for right of first refusal;
- Renewal conditions;
- Space and services included (i.e. does the lease provide for amenities such as power, HVAC, or parking?)
- How utilities metered and apportioned
- Property zoning; and
- Type of business permitted to operate on premises.
In order to minimize your risk, it is imperative to obtain guidance and legal advice from a commercial leasing lawyer who is well versed in negotiating the often-complex nuances that go into a commercial lease agreement.
Protecting Tenant Rights in Commercial Lease Agreements
Commercial landlords often operate using their own standard form commercial lease that they have developed over the years and that are often heavily slanted in their favour. A standard form agreement can be augmented however with an offer to lease containing specific terms not included or in contravention of terms in the standard agreement.
The seasoned business and real estate lawyers at Cherkowski Marsden LLP have over 50 years of combined experience drafting commercial lease agreements and can craft an offer to lease with terms specifically suited to the needs of your business. Our lawyers will carefully and thoroughly review the standard lease agreement to flag any concerning terms and/or omissions and will draft an Offer to Lease that contains key terms missing from the lease and/or override unfairly disadvantageous terms.
For Assistance with Your Commercial Lease Agreement Contact Cherkowski Marsden LLP
The business lawyers at Cherkowski Marsden LLP work with business professionals at all levels and across a wide range of industries. We look forward to utilizing our considerable experience in commercial leasing to protect the rights and interests of your business. If you are looking to begin a new venture involving the lease of a commercial property, contact us online or at 250-308-0338 to take advantage of our experienced and knowledgeable advice.