In a review of two recent articles provided by Inc. Magazine, I was reminded of how daunting leases and especially commercial leases can be for a businesses. At Schleiffarth Law Firm, we work with many St. Louis businesses in negotiating commercial leases and protecting their interests.
A business leasing commercial property must be careful in agreeing to and signing a lease in Missouri. Beyond the dollars and cents of the agreement and the location and layout of the premises, a business leasing real estate (a “lessee” or “tenant”) must consider how to protect itself before, during and after the term of the lease. Leasing and contract preparation requires expertise—from the lessee, from outside consultants and preferably from an experienced St. Louis real estate attorney.
In counseling and representing our business clients in a leasing situation, I am quick to identify five provisions that we must be sure not to overlook: (i) use Limitations, exclusive Use provisions and maintenance obligations, (ii) options to extend the term of the lease, (iii) non-rent financial obligations, (iv) assignment and subletting and (v) sale of the property during the lease term. There are many important components to any commercial lease, but these five critical provisions are too often overlooked and could create dire consequences.
Lawyers who primarily practice in other areas of the law too often miss the nuances and details of real estate lease agreement and non-attorneys often lack to the understanding of sometimes complex legal provisions. Even the referenced Inc. Magazine article, intended to provide some useful guidance to a business owner, really fails to address the important underlying issues in any commercial lease.
We are a St. Louis based law firm that works with clients in matters primarily in Missouri and Illinois. We take our client relationships seriously and are anxious to help business owners succeed.
Here is a link to the Inc. Magazine articles referenced above:
Keywords: Business Law, Commercial Leases, Contracts, Agreements, Commercial Real Estate Leases, Schleiffarth Law Firm, Jim Schleiffarth, Lawyer, Attorney, St Louis, Webster, Missouri