Despite what many people believe, tenants do not need to accept any terms that the landlord proposes. Especially in the case of commercial leases, tenants have every right to negotiate the terms before entering in a leasing contract.
A Bloomington commercial lease negotiation lawyer could help companies and individuals to negotiate the terms of their commercial lease contracts. A skilled real estate attorney can work with parties to identify their goals and clarify any confusion that may hinder the commercial leasing process.
Above all else, a commercial lease is a contract between two parties. This means that almost any term within the contract is up for negotiation. However, there are a few common concepts that all contracts must address. Every landlord-tenant agreement must contain a date for the start of the tenancy, information about the amount of rent and when it must be paid, and what is to be done if a party fails to pay.
Leasing contracts also cannot interfere with the basic concepts encompassed in tenant rights. For example, Minnesota Statute §363A.09 makes it illegal for a landlord to discriminate against a potential tenant due to their race, color, creed, religion, or sex, among other factors. A leasing contract can never require a tenant to waive those rights. A Bloomington commercial lease negotiation lawyer could help identify potential issues in commercial contracts and work to come to a fair agreement.
A negotiation is a chance for parties to work towards an agreement that better suits their needs. Strong negotiations may help to obtain a lesser rate of rent, increase a tenant’s rights to use the land as they see fit, or to change restrictions that a landlord might place in other lease contracts.
When both parties are open and honest about their goals, it can help dispel any conflict that might arise in the future. Furthermore, when both parties can directly engage in negotiations, there is less likely to be confusion as to what the terms of the contract mean. This can help lessen the chances for litigation in the future. A Bloomington commercial lease negotiation lawyer can provide more information about the incentives of entering into contract negotiations for leasing commercial land.
Making the decision to lease a commercial property is an essential first step towards a successful business operation. However, failing to negotiate for fair terms can result in many owners being locked into unfavorable leasing agreements that hinder their ability to grow and make a profit.
A Minnesota commercial lease negotiation attorney could help business owners avoid this mistake. They can work to analyze the terms of a proposed lease agreement to determine how it will affect your company. They can then remain in contact with the other party to offer new terms that might serve to improve the landlord-tenant relationship and help your company prosper. Call today to learn more.