Negotiating terms for a commercial lease
Many business owners enter into negotiations to lease premises directly with the rental agent. There are many facets discussed in those initial consultations before an Offer to Lease is presented to the prospective tenant for execution.
If there are representations or promises made by the agent that are not contained in the Offer to Lease, they are unlikely to be contained within the Lease and therefore not binding on the Landlord.
To ensure that all matters that are agreed upon are included in the final lease you sign, we advise our clients to ensure all matters discussed are reduced to writing (an email trail is enough just to evidence what has been discussed and agreed). Once the offer to lease is prepared, clients should seek legal advice at that stage to ensure they are not agreeing to terms which differ from what has been discussed.
A commercial lease is often a long term agreement which requires a tenant to invest considerable monies. If prospective tenants only come to see a solicitor for advice after the offer to lease has been signed, they may have already agreed to terms and conditions which are not only disadvantageous to them but were not in line with the negotiations undertaken.
To avoid being bound by an offer to lease (and subsequent lease) which is not a true reflection of the agreement made, make an appointment with one of our lawyers before you sign anything and we can provide you with advice as to your legal position. Contact Kristy Collins Associate in the McLaughlins Lawyers Commercial Law team.