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Commercial leases are often necessary for businesses in Denver and the surrounding areas. Yet, with those leases can often come questions. Should you sign the lease without reading it or having it reviewed by an attorney? Are all commercial leasing agreements the same? Will the landlord negotiate on certain business lease terms? And, if so, which commercial terms are more important for your business? Mallon Lonnquist Morris & Watrous understands how and why commercial leasing agreements can cause problems if key terms are not negotiated. Schedule your consultation before signing a commercial leasing agreement to ensure that it will serve your business needs. Our attorneys can evaluate tenant improvements, space build-outs, CAM, operating and other costs.
What Does a Commercial Leasing Lawyer Do?
A commercial leasing lawyer helps businesses and landlords in several ways. However, the objective of this section is to simplify what experienced commercial leasing lawyers such as Mallon Lonnquist Morris & Watrous do. One of the main objectives is to review the language of a commercial lease brought to them by their client and discuss and evaluate client needs and goals. This helps their client know whether the terms within the document are general terms found within similar leases or if it is something that their client shouldn’t sign, or what terms might be negotiable and other business lease pitfalls. We discuss exposure, risk and responsibility shifting with the client.
A commercial leasing lawyer can also assist landlords in drafting leases. Many businesses may have additional space or be in the real estate industry. They require specific language within the commercial leases, depending on the industry for the space. For example, they may require that the lessee purchases a specific amount of both property liability insurance and general liability insurance. Perhaps paying part of the utilities or partial property taxes is another requirement. It all depends on the type of commercial lease used.
Common Types of Commercial Leases
What are the most common types of commercial leases that a business owner should know about?
- Gross lease agreements. These are also known as full-service lease agreements. Generally, the landlord is responsible for all building expenses, taxes, insurance, and maintenance cost at least for the first year.
- Net lease agreements. This could be a triple-net lease, double-net lease, or a single-net lease. Each has specific additional expenses aside from rent that the tenant is responsible for paying.
- Absolute NNN or “triple net” lease agreements. These leases may not have building expenses that are paid by the landlord, including the roof or structure repairs.
- Modified gross lease agreements. This lease agreement is modified between a gross lease agreement and a triple-net lease.
- Percentage lease agreements. These lease agreements require the tenant to pay rent plus a portion of the business tenant’s sales.
It’s crucial that business owners understand not just the type of commercial lease, but each clause to make sure it meets the business needs and goals.
How Mallon Lonnquist Morris & Watrous Can Help Denver Businesses with Commercial Leasing
Mallon Lonnquist Morris & Watrous’ experienced commercial lease attorneys put their more than 30 years of experience to work for their clients. They guide their clients not only by reviewing commercial leases to ensure that the lease they’ve been offered is appropriate, but can also help with negotiation and interpretation of the clauses. Our legal team can also assist commercial real estate owners with the drafting of commercial lease agreements.