Why hire a Paralegal for your Lease Negotiations?

By
Real Estate Agent with Texas Sold Team Realty LLC

LEASE NEGOTIATIONS

You can work it one of two ways in retail/commercial lease negotiations - hire an attorney or handle the negotiations yourself.

There is a third alternate however - hiring a Real Estate Paralegal who has worked in retail negotiations for eight (8) years for a large retailer. 

If you are an owner of a retail/commercial center and have been negotiating the leases of your tenants on your own -  below are a few items that you should think about in your negotiations:

•·         Common Area Rules & Regulations for all Tenants - do you have fines if tenants do not conform to the rules and regulations;

•·         What about "go dark" language - you don't not want your tenants to be able to close - your center will look like it is vacant even thought rent is still being paid - if it is still being paid;

•·         Do you have conforming sign criteria for the entire center;

•·          What is the centers hold harmless language - are you actually covered if something happens;

•·         Do you as a Landlord have the right after completion of new space to recalculate the floor area of the Leased Premises so that the rent can be adjusted to reflect a larger space;

•·         Does your lease specify how the space is to be turned over at expiration of lease;

•·         Do you hold the right to approve tenants plans;

•·         Do you hold the right of contractor approval;

•·         Do you reserve the right to have tenant refresh the interior if they have been in the space for five years or more;

•·         Are you specific in your Tenants default language

This list goes on ...

Feel free to contact me  - I work on a contract per lease fee basis.

 

 

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