A commercial lease is a legally binding contract between a tenant and landlord for the use of a commercial property. And if you've signed one, you'll want to make sure you understand your rights and obligations under the lease. Here are some situations when you might need to consult a lawyer.
If You Want to Make Changes to The Lease
Sometimes, tenants want to make changes to their leases, such as adding another person to the lease or extending the length of the lease. If you want to make changes to your commercial lease, you'll need to get the landlord's permission first.
Once the landlord agrees to the changes, they will need to be made in writing. In this case, you and the landlord will need to sign the new agreement.
And before you make any changes to your lease, it's always a good idea to have a lawyer look over the new agreement to ensure it's in your best interests. This way, you can be sure that you're not inadvertently giving up any of your rights or agreeing to unfavourable terms.
Pro-tip: If you're considering making changes to your commercial lease, ask your lawyer about the potential risks and repercussions first. You don't want to end up in a legal battle with your landlord because you didn't understand the terms of your lease.
If You Need to Get Out of The Lease Early
There may come a time when you need to get out of your commercial lease early. For instance, suppose your business is not doing well, and you can't afford the rent. In this case, you'll need to talk to your landlord about breaking the lease.
If your landlord agrees to let you out of the lease, they will need to give you a release in writing. Once you have this, you'll be free from your obligations under the lease.
However, if your landlord doesn't agree to let you out of the lease, you may be stuck paying rent even if you're not using the property. That's why it's always a good idea to consult a lawyer before trying to break your commercial lease.
Your lawyer can help you negotiate a release with your landlord or, if necessary, file a lawsuit to get out of the lease. And if you do end up in court, your lawyer will be able to represent you and fight for your rights.
Commercial leases may seem straightforward, but many legal complexities are involved. That's why it's always a good idea to consult a lawyer if you've signed a commercial lease. An experienced lawyer can help you understand your rights and obligations under the lease and even get out of the lease if necessary. If you have any questions about your commercial lease, don't hesitate to contact your lawyer.
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