Commercial real estate leasing lawyer
A commercial real estate leasing lawyer is a qualified specialist who is ready to assist companies in conducting lease transactions with commercial facilities, collecting rental debts, terminating a lease, pre-trial settlement of disputes, representing interests in negotiations or in court, and other similar issues.
Why do you need a commercial real estate lawyer?
Commercial real estate is usually one of the most valuable assets of a company. The process of realizing objects includes a large number of factors that only an experienced lawyer can take into account and use to get the maximum benefit from the transaction. For this reason, the acquisition of real estate for business requires the mandatory participation of a specialist.
The services of a commercial real estate lawyer include a wide range of actions:
- study of the object’s history;
- establishing the grounds for the emergence of ownership rights;
- checking the legal purity of the object;
- assessment of possible risks for their minimization;
- analysis of the lease agreement for a commercial facility and making the necessary changes;
- request for additional documents to analyze the object from all sides;
- identification of the presence of encumbrances and rights of third parties to the object;
- support during negotiations;
- consultation of the client on the issues of registration of the transaction;
- checking the owners of the object;
- checking the presence of litigation in relation to the counterparty;
- preparation of the necessary documentation for the transaction.
What factors should you pay attention to before renting a commercial non-residential premises?
When choosing a room, consider the following factors:
- Business logistics. Pay attention to logistics flows, build the best routes and choose the area that is most convenient in this regard.
- Location of competitors. Ideally, there should be a minimum of competitors in the immediate environment. But there is a nuance: you need to understand why there are no competitors in a particular place – the place is not suitable for business in principle, or competitors have not yet managed to take a position.
- Budget: the cost of rent, utility and tax payments. Calculate how profitable it will be for you to rent this particular room.
- Requirements for the premises. For each business there are a number of requirements that, in accordance with the law and the specifics of the activity, must be taken into account.
- Conditions for extending the contract and the term of the lease. Renting premises for more than a year is subject to mandatory state registration. Check with the tenant if he accepts this condition. Be careful: without registration, the transaction is invalid and cannot entail any legal rights and obligations for the parties to the lease agreement.
Go through all the points when you have selected several options to choose the best one that best suits your request.
How to avoid possible risks when renting a property?
Due to the high cost of commercial real estate, the rental process involves a lot of risks. It is also affected by the fact that the commercial property rental market is oversaturated, the level of fraud is also high.
We list the main risks associated with the lease of commercial facilities:
- The contact person is not the owner of the commercial premises and is trying to commit fraudulent activities, pursuing his own selfish goals. For example, it could be a former CEO or an employee with a revoked power of attorney.
- The owner has a mental disorder, which he kept silent about and which will subsequently give the right to challenge the transaction.
- The authorized person has no authority due to the revocation of the power of attorney.
- The corporate procedure for the alienation of property was not followed. The issue of corporate approval was not taken into account.
- The object has legal or banking encumbrances.
- There is an injunction on the disposal of property.
- Changes were made to the project that were not agreed with the municipal authorities. In this case, you will need the help of a narrow-profile lawyer, otherwise it will not work to make a deal.
- The type of permitted use has been changed.
- The rights of tenants are not taken into account.
- Several transactions have been made lately. There is a risk that some of the transactions were illegal.
- There are prerequisites that the landlord may initiate bankruptcy proceedings. As a result, you may lose the premises and incur additional expenses.
- There are debts on taxes, utility bills, including overdue payments for the telephone.
How to minimize risks?
You need to follow the following action plan:
- carefully check the counterparty for possible risks, examine the documentation, the history of the object, the reputation of the owner;
- analyze the lease agreement for commercial real estate.
The provisions of the agreement will allow to observe and protect the interests of both parties to the transaction. Inattention to the details of the contract, in particular the small print and dubious conditions, can lead to significant financial losses. Pay special attention to the paragraph in which
the rights and opportunities of the parties and additional conditions, including the clause on termination of the contract, check the cost.
It is required to make great efforts to check the counterparty and the object before concluding a transaction, since in case of an unsuccessful scenario, the transaction may be invalidated, and the parties will incur significant losses.
Typically, such matters are dealt with by a commercial real estate lawyer. Use the help of a narrow-profile lawyer from VALEN to avoid losses and make a deal on favorable terms for you.
Benefits of hiring a commercial real estate lawyer
- Minimization of risks associated with the lease of commercial premises.
- The most favorable terms of the transaction for your business.
- High-quality lease agreement without pitfalls.
- Reduction of the term for verification of the counterparty and execution of the necessary package of documents.
- Saving money by minimizing risks.
Provision of legal services for commercial real estate at all stages
Lawyers for the lease of commercial real estate company VALEN will be happy to provide services in support of transactions for the sale of commercial real estate. Both consultations at the initial stage and full support until the entry into the state register are possible. Specialists work with each request individually.
- Telephone consultation, online consultation.
- Face-to-face consultation of a lawyer on the lease of commercial real estate.
- Verification or drafting of the lease agreement.
- Verification of the counterparty.
- Representation of interests in court in disputes on lease agreements.
To discuss your issue with a lawyer, contact us in a convenient way: call us or leave a request on the website.
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