If you have found the best property for your commercial premises, then you must now be considering signing a lease for the property. But do you know what a commercial lease is, and are you familiar with the different clauses which outline the importance of the document?
According to commercial law experts, the clauses in the lease highlight the rights and obligations of both the tenant and the landlord, and any discrepancy and negligence can result in breach of contract by either one of the two parties.
Your Commercial Lease – What Is It?
It is very important for you to recognize the importance of a commercial lease, as it is a legally binding contract. It is essential for both the tenant and the landlord to understand the different terms and conditions given in the contract before signing up the contract.
It is also important that both the parties recognize their obligations and rights, so that all disputes can be avoided, or easily handled if any should arise. Since most lease clauses are quite complicated, it is important to seek the help of an expert who can advise you on the matter.
You need expert legal help, before you,
- Occupy any leased property
- Pay any deposit or any other form of monies
- Make commitment to take, lease or buy on any work which might affect your lease obligations
- Sign a lease contract