Moving Office - who's protecting your interests?
Moving into new office space is an exciting time. It represents the future for your company - the opportunity for business growth and increased productivity. But taking on a commercial office lease is one of the biggest financial and operational commitments your business will undertake.
You should be clear, from the onset, that an office lease is a legally binding document that imposes liabilities and obligations on both parties for the term of the lease. It follows that failing to comply with any of these obligations at any stage of the term of the office lease may have costly legal, financial and operational consequences for your business.
Remember, again, that an office lease is a legally binding contract between the owner of the office property and the tenant. It follows that, before signing the lease, you must be certain that you understand every single word, phrase and clause that it includes. Why? Because these words, phrases and clauses represent the terms and conditions by which your tenancy will be dictated. Failure to comply with any terms of the lease agreement may result in court action being taken.
It is, therefore, imperative that you get a Commercial Real Estate Lawyer to review and negotiate on the terms of your lease on your behalf. Hiring a Commercial Real Estate Attorney is not a luxury. Their role is a vital one for the future health of your company - namely, to ensure that the office lease you sign is one that protects your company's best commercial and operational interests. It is a major MUST-DO when moving office. It safeguards your company from being exposed to costly & restrictive lease terms and prevents any avoidable disputes that may arise in the future.
Legal Considerations when Moving Office
There are, surprisingly, all too many examples where companies have paid the penalty of not having their own legal representation (usually driven by a lack of experience or mis-placed desire to "save money"). This frequently causes issues at some stage throughout the lease. Whatever your circumstances it is essential to get legal advice from the onset.
Why hire a Commercial Real Estate Lawyer:
- They are alert to the pitfalls of office leases
- They are up-to-date with all current issues surrounding lease agreements
- They negotiate office leases for a living
- Their job is to protect your company's best interests throughout the term of the lease
Real Estate Attorney fees are not large - especially when considered against the total costs of a lease over the length of its term. And when compared with the costs of entering into a poorly negotiated lease they are very small indeed.
Tenants who do not seek professional legal advice over the detail of their office lease expose their business to considerable risk and costly operational consequences further down the line.
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