Dallas Small Business Lawyer:Commercial Leases
Posted on | April 10, 2013 | No Comments
Dallas Small Business Lawyer: Commercial Leases
When leasing a space for your small business, you are faced with many challenges. Long lease terms, long and complex lease agreements and high lease payments are just a few of those challenges. Trust a qualified and experienced business attorney to help you navigate this unfamiliar territory: The Wright Firm, LLP, with offices in Dallas and Lewisville, Texas.
Commercial leases normally come in 2 varieties: 1) gross leases and 2) triple net leases. A gross lease normally requires the tenant to pay the landlord a set amount for the lease payment each month and nothing more. A triple net lease normally requires the tenant to pay a set amount PLUS a share of the landlord’s operating expenses: utilities, insurance, taxes, repair, maintenance and possibly more.
Also, it is important to recognize who will pay the cost of the work that needs to be done to “fit-out” or “finish-out” the leased space. Most leased spaces will need to be modified before you can move in and get to work: you need to know whether you or the landlord will foot the bill for that work, and if you will be required to use contractors chosen by the landlord.
Another issue will be a personal guarantee, which many commercial leases call for. This means that you may be asked to take on personal liable for the lease payments, even if your business is the party that signs the lease agreement. Please call us at (972) 353-4600.
Tags: Dallas Business Attorney > Dallas Business Lawyer > Denton Business Lawyer > Lewisville Business Lawyer > Texas Business Law > The Wright Firm
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