Meet one of my long-term business clients, Elizabeth. She was frustrated with her current office space as it no longer meets her growing needs. The landlord, offering the adjacent suite with a supposedly "standard" lease, said that there are no surprises.
Thankfully, Elizabeth understands the importance of being informed before signing any legal documents. That's why she had me review her lease before committing.
During the review, we focused on key provisions, like the acceleration clause. This clause grants the landlord the right to claim all remaining lease payments in case of default. For instance, failing to maintain proper insurance can trigger immediate payment of future rents. Do surprises like that excite her? Not really.
It's crucial to remember that in commercial leases, there's no such thing as "standard." Unforeseen pitfalls often lurk within the fine print.
Don't overlook the details. Protect your business. Reach out to me for lease insights and avoid costly surprises.