Written by Joanne Morgan of Ward and Smith, P.A.
Creating landlord-tenant agreements for commercial leases.
Similar to a marriage, in which two parties come together to enter into a legally binding agreement, a commercial lease symbolizes a forged relationship between parties that can be enduring and rewarding, or short-sighted and emotionally and financially taxing.
In preparing and negotiating commercial lease agreements on behalf of my clients—either as landlord or tenant—I’ve come to understand that the most reliable predictor of a healthy landlord-tenant relationship is setting clear terms for the arrangement up front, long before the tenant “moves in.” Entering into a clearly drafted lease agreement at the outset helps to set expectations, which minimizes the possibility for disagreement on how to handle a challenge when it arises.
In the interest of keeping your professional and contractual relationships healthy and fruitful, here are a few key elements that are oftentimes left unaddressed in commercial leases. When considered by the parties ahead of time (and usually with the guidance of effective brokers and attorneys) they lend a hand in creating a happy marriage between a landlord and a tenant.
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