Signing a Commercial Lease for Your Business

 Posted on February 23,2022 in Real Estate Law

Whether you are starting a new business or expanding an existing business, you may need to enter into a commercial lease if you do not own the property where your business is located. Unlike residential leases, commercial leases are often lengthy and detailed. They also tend to have provisions which are usually more beneficial to the landlord and not the commercial tenant. This is why it is important to have a Stamford real estate attorney look over any commercial lease you are considering renting before you sign anything.

Right to Certain Protective Terms

Many of the basic protections that Connecticut law provides to residential tenants do not carry over to commercial tenants. Where some terms are common to residential leases, commercial leases may not contain them at all. For instance, the lease should provide that the tenant has exclusive use of the property, free from any interference by the landlord. Likewise, if the commercial property becomes unfit for the purpose for which the tenant leased it, they may no longer be subject to the remainder of the lease terms.

Additionally, there are certain provisions that are essential in order for a commercial lease to be truly fair to both parties. For instance, there should be a provision about who is responsible for attorneys’ fees and other court costs if the parties must litigate a dispute about the lease. The landlord’s right to terminate the lease should be clearly defined and should give the tenant adequate notice. Similarly, the tenant should have the right to terminate the lease early, at least in some situations.

Who Is Responsible?

There are other differences between residential and commercial leases that many tenants may not be aware of and should be addressed in the lease. For example, what if a significant issue develops, such as a pipe bursting or the roof leaks, causing flooding and damage to the space. The lease should stipulate who is responsible for the repair of that damage and whether the tenant will be required to still pay rent for an unusable space while it is undergoing those repairs.

There may also be a question about the possibility the tenant decides to sublet the space. The lease should address whether this is allowed and if so, what the parameters must bee in order to sublet.

Contact a Fairfield County Real Estate Attorney

The above are only a few of the items that should be addressed in a commercial lease. Having a Stamford, CT commercial lease lawyer look over the lease you may be signing to ensure that all potential issues are addressed and that your best interest are protected will go a long way in helping the success of your business. Call Law Offices of Daniel P. Weiner at 203-348-5846 to schedule a free consultation and find out how we can help.

Source:

https://www.cga.ct.gov/current/pub/chap_830.htm