Previous posts on this blog have discussed how many business owners in Philadelphia, who are looking to start a new business or move, may consider leasing a place for their business rather than buying a piece of property outright.
Those who do choose to lease are going to have a lot thrown at them at once. Commercial leases are not like the lease one signs to rent a home or an apartment as they have a lot more layers of complexity to them. There are, for instance, several additional issues that a good commercial lease should address which might not be important for someone just looking for a home. Moreover, commercial leases are much more likely to include terms which are open to negotiation.
What this means is that, whether one is the landlord or tenant, a Philadelphia resident must make sure a lease gets written or reviewed carefully and in a way that no important detail gets missed outright or simply glanced over.
In this respect, our law office’s approach is to insist that all language in every lease agreement, no matter who we represent, needs to precisely spell out everyone’s rights and responsibilities with respect to all important issues that may come up, even years down the road.
With our over 40 years of combined experience in negotiating leases, we know what language needs to be in a commercial lease and, on the other hand, what subjects are best left out.
In particular, we handle mall and shopping center leases, which often have special provisions covering things like allowing a competitor into the same mall or rules about store hours.
A commercial lease agreement is just too important to not get careful attention. Philadelphia residents who are contemplating entering a commercial lease agreement are encouraged to continue to explore our website for additional information.