Who pays the legal fees for a commercial lease?
Who pays the legal fees for a commercial lease? In terms of who pays for a commercial lease agreement, it’s usually the tenant who covers the cost of drawing up the lease document, but this can be agreed by the lawyers of the two parties.
Is a commercial lease legally binding? A commercial lease is a form of legally binding contract made between a business tenant – your company – and a landlord. The lease gives you the right to use the property for business or commercial activity for a set period of time. In return for this, you will pay money to the landlord.
Why do you need a solicitor for a commercial lease? A commercial lease solicitor will investigate the title of the property and the landlord’s power to grant the lease, undertake detailed commercial property enquiries and searches which will reveal any adverse restrictions that affect the use of business premises.
How can I negotiate a better commercial lease?
- Calculate your office space needs and find a property with space for lease.
- Investigate your prospective commercial landlord.
- Research market standards.
- Review every clause with a legal counsel.
- Provide your own counter-terms.