If you are considering leasing a commercial property, it is crucial to confirm you follow all the prompts. One of the biggest concerns you might have is whether you should be doing this on your own or seek help from professionals. You may have negotiated before and choose to go in alone to represent your company against the landlord. You may have negotiation skills, but this is not always true with most tenants. When entering the business of commercial real estate, there are some things you might not know. You could miss out on vital things that can help you save. There are also terminologies you might not understand.
The good news is that a lawyer can help you. The professional has helped countless clients with their expertise to save time and money and avoid the stressful negotiation process. It is good to know that having a Spokane real estate attorney when negotiating a commercial lease can make all the difference. It will not only save money but also help come up with favorable terms. Here are reasons to work with a lawyer when negotiating the deal.
Landlords Also Hire Representatives
Real estate is probably the second industry that people spend the most. Therefore, you don’t want to risk your money by going in alone. If you are negotiating with sophisticated landlords, you may risk your investment. Remember that you are in business, and everyone involved is there to make money. Therefore, landlords protect their interests by coming up with a representative. They will come with another expert who will do everything to improve their bottom line.
Remember, during a negotiation, you are not only dealing with the landlord. They will come with experienced lawyers and brokers to draft documents for you to review. If you are not careful, it is easy to get lost and set yourself to fail. That is why it is advisable to come with a lawyer by your side.
Negotiating Alone Can Cost You
You could make costly mistakes, or the landlord may take advantage of you if you go alone. That is why negotiating the lease with the help of a lawyer is necessary. The process will be quick and successful since the expert will read through the lease with the experience and intelligence they have gathered. You will review the initial document with the lawyer and point out any concerns or mistakes that you would like to be rectified. While you may want to accept the initial draft presented to you by the landlord, it could cost you a lot of money and bring up complications in the long run. So, involve the lawyer to get a good deal with optimal terms for your organization.
You Might Not Understand Terms
The lease might have 100 pages, and if you are not careful and well-prepared, the parties involved may take advantage of you. It is easy to omit pages or fail to read between the lines. You may also miss certain vital rights. Furthermore, commercial leases have some complex terms that you might not understand. There are clauses and nuances like signage, parking, renewal, expansion rights, etc. Remember that the leases favor the interests of the landlords. Therefore, have a lawyer to help you review the documents before signing.
To Recap
Working with a lawyer during a commercial lease negotiation is the best decision you could make. The professional will help review the lease draft and help you make the best decision. Remember, investing in real estate is a huge commitment, and you cannot afford to make mistakes.
