Virginia Commercial Leases Attorneys

Commercial Leases Attorney

Commercial real estate is much more complicated than residential real estate. For instance, commercial leases have provisions that you will not find when renting a residential property. For example, landlords do not just charge tenants based on the square footage. Instead, they can also factor in how the property is going to be used when determining a rental amount for the lease agreement. Additionally, landlords can limit how the property is used and include other complex provisions.

Because of the complexities, you do not want to print out a basic lease agreement and sign it. If you do that, it will not represent your interests, meaning you might be stuck with unfavorable terms.

Thus, contact our Virginia commercial lease attorneys for legal guidance. We work with landlords and tenants to create favorable, legally binding lease agreements.

Types of Commercial Leases

PJI Law has experience in all types of commercial leases. This includes:

• Single net leases
• Gross leases
• Modified gross leases
• Net-net leases
• Triple net leases

Our firm can discuss these and other options with you.

Negotiating a Commercial Lease

Although a broker or the business owner themselves can negotiate items such as the rent, the amount of security deposit, and the length of the lease, a commercial lease attorney is needed to help you negotiate the legal aspects of the contract, as well as items where legal and business issues overlap.

Our goal is to ensure our clients have favorable terms when signing commercial leases. Thus, our attorneys pore over lease agreements and negotiate the terms and conditions before advising our clients to sign them. Contact us today to discuss negotiating and drafting a commercial lease agreement.

Adding an Out Clause to a Commercial Lease

Landlords and tenants often like long-term leases due to the stability they offer. However, there is a risk associated with long rental periods. Landlords often worry that the company might not last for the duration of the lease, so many require a personal guarantee. Thus, if the business fails two years into a five-year lease, the tenant could be personally responsible for paying the remaining three years of rent.

You can protect yourself by having your commercial leases attorney include an out clause in the document. With this clause, you can determine which circumstances will allow you to get out of the lease early. Then, you will not have to pay the remaining balance if the conditions are met.

This can be beneficial to both landlords and tenants. Thus, contact PJI Law to discuss this and other components of a commercial lease agreement.

Use of the Property

The tenant and the landlord will discuss how the property will be used before drafting the lease agreement. Then, the attorney will include the permitted uses in the lease. If the tenant does anything outside of the scope of the agreement, the landlord can file a suit or take other actions. Thus, it is important to ensure that the use is clearly defined and both parties agree before signing the document. Your commercial leases attorney at PJI Law will go over this in detail and can draft the agreement for you. Contact our firm today to discuss your needs so we can formulate a plan to help you reach your goals.

Letter of Intent

Landlords and tenants often use a letter of intent to outline the provisions of the lease. While letters of intent usually are not binding, that is not always the case. In fact, such a letter might prevent you from searching for other rental properties while negotiating the lease. Thus, it is important to consult with a commercial leases attorney before signing such a letter. Your attorney will ensure your rights are protected during this and the remaining steps.