Nashville, TN – Many businesses need to rent a physical space to conduct their operations, meet with customers, or sell their products. In many cases, this requires the company to have a commercial lease with the property owner. Commercial leases are different from residential leases in several ways, and the business owners should understand all of the terms of the document before signing it. In these situations, it is helpful to have a business attorney available to review and explain the document thoroughly.
A commercial lease is a type of contract
Any kind of lease is an agreement that is written and enforceable by a court if a dispute arises, just like a standard contract. This means that the business should expect to be bound by terms related to payment of rent, a specific term of use, responsibility for maintaining the property, and any other relevant issues. If either party violates the lease agreement, they may have to pay out damages or be subject to other legal measures of enforcement such as eviction.
Businesses do not receive the same protections as residential leases
A business does not get certain implied benefits by renting a space as residents in a house or apartment do. Some protections in residential leases can include rent controls, notices about evictions, and privacy rights. Unless the property owner is doing something that is clearly illegal, they can generally place any kind of rights or obligations that they want into a commercial lease. This means that it is especially important for a business to understand exactly what is in their commercial lease before signing it and potentially being stuck in a bad situation.
Additional costs can be present
Commercial leases can also require a business to pay for things like special insurance and property taxes. Depending on things like the location of the property, the type of business that is being conducted, and other relevant factors, this can result in additional significant costs that can affect the ability of the business to generate profits and manage expenses. It is also possible that the property will have significant maintenance and cleaning costs which are the responsibility of the business while they are occupying the space.
Tennessee business attorneys
The Law Office of George R. Fusner is dedicated to helping with various business law matters. Those who have questions about legal issues and their businesses can schedule a meeting with the firm for advice.
USAttorneys.com is a service that works with people who are looking for lawyers anywhere in the country. People who need assistance with their search can call 800-672-3103 for more information from a representative.
Firm contact info:
7104 Peach Court, Brentwood TN 37027
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