When you sign a commercial lease agreement, you’re entering into a contract that outlines the rights and responsibilities of both the landlord and the tenant. These contracts can be complex, but understanding their basic elements is incredibly important for both parties involved. In this article, we’ll discuss what you need to know about commercial lease agreements in Missouri and how an experienced real estate attorney can help you create a contract that meets all your needs.
If you’re about to enter a commercial lease agreement in Missouri, call Wallach & Associates, P.C. today. Our real estate attorneys can help you identify the most important contract terms related to your business and guide you in negotiating the best possible options.
Important Terms in Commercial Lease Agreements
Lease Term and Renewal Options: These options define how long the lease will last and under what conditions it can be renewed. It will include details about how much rent will be paid and how increases to rent will be handled.
Use of Property: This section will detail what the property can be used for, which is based on the property’s dimensions and zoning laws. It will be necessary for new businesses to make sure they can operate and grow within the property. If your business involves noisy machinery, for instance, there may be restrictions on where you can operate.
Maintenance and Repairs: This section outlines who is responsible for maintaining and repairing the property. It includes your duties within the property and the landlord’s duties in common areas like hallways and staircases. If you don’t review this section carefully, you could give your landlord an excuse to terminate the lease agreement.
Modifications: You’ll need to know if and when you can modify the space, as well as the process for getting those modifications approved. If your business is just starting out, it will be important that the lease agreement allows you to expand. If you can’t add more shelves, rooms, or storage spaces, it might not be the right property for you.
Termination Conditions: If any of the above terms are not met by either you or the landlord, it may be considered grounds for termination of the lease agreement. This section will also include any other specific conditions that could end the contract, as well as the steps both parties must take once it ends.
Tips for Securing the Best Commercial Lease Terms for Your Missouri Business
Before you enter a commercial lease agreement in Missouri, you should know exactly what your business will need from the property. You’ll want to negotiate terms that allow for some flexibility in lease duration, modifications to the space, and termination clauses. Speaking with an experienced Missouri real estate attorney can help you clarify the terms of the contract and negotiate for the best options possible.
At Wallach & Associates, P.C., we provide comprehensive real estate and business law attorney services in St. Louis, Chesterfield, and Maryland Heights, Missouri. We have years of experience helping small businesses find the commercial lease agreements that benefit them most. Call us today at (314) 308-2900.
