When you run a business or company, renting a space for your workers is crucial. Whether it’s an office space or a warehouse, finding the perfect space is an exciting time for any business. However, this process is much more involved than simply signing a document. There are many considerations you must make, highlighted by the different kinds of commercial real estate leases. Keep reading to discover the various options and learn how an Austin, Texas commercial leasing lawyer can help you make the most informed decision for your business.
What Are the Most Common Commercial Real Estate Leases?
A gross or full-service lease is often preferred by tenants. With this option, the rent encompasses all maintenance, insurance, and property taxes in one payment. Generally, this means the rent will be higher, but is the only expense the tenant will worry about while leasing the space. For example, if you use more air conditioning during the summer, your rent would remain the same regardless of the increase in the electricity bill. However, some landlords may include a cause in which your next month’s rent may be slightly higher to cover the cost of the utilities from the previous month.
The next option many consider is net leases. This means that a tenant will pay a portion of expenses towards the building, such as property tax and insurance, based on their percentage of occupation. If you are a small business operating out of a 500-square-foot office, you would pay less than another company using 3,000 square feet. It’s important to note that there are four kinds of net leases – triple, double, single, and absolute. Each has its own pros and cons, so exploring these options to uncover the details is vital.
How Can an Attorney Help Me Through This Process?
Because there are so many kinds of leases available, having an attorney help you understand the terms and conditions of a lease is vital to ensure it falls in line with your wishes before signing the document.
Not only is it necessary to understand what kind of lease you are agreeing to, but there may be terms and conditions you wish to negotiate. As such, having an experienced lawyer to examine the language used in the lease and negotiate and clearly delineate the obligations of the parties involved in the lease is essential.
Leases are complex and often confusing legal documents. As such, ensuring an attorney from Dillard Property Law examines the details of the agreement before you sign is vital. Without the assistance of a lawyer, you may find that you’ve entered a legal deal with unfavorable terms. Luckily, we can help shield you from this probability by ensuring you fully understand your rights. Contact us today to learn more about how we can assist you through this process.