Every property transaction is different, but the real estate lawyers at Stok Folk + Kon have compiled a wide range of experience in the Fort Lauderdale area. With our extensive business background, we are able to assess commercial leases from both a legal and economic perspective. We understand the significant impact that these agreements can have on the development of your enterprise, and we are proud to provide practical judgment and sound advice to our clients.Protecting Your Rights in a Commercial Lease
A commercial lease is an agreement between a landlord and a business detailing the terms and conditions of the property rental. It is specific to business purposes rather than residential uses. We advise landlords of office buildings, shopping malls, and other commercial properties concerning their needs, and we also represent tenants in connection with their lease negotiations.
Under Florida law, a rental agreement must contain certain information to be valid. This includes the name of the lessor and lessee, a description of the premises, the rental rate, the starting date, and a granting clause. When negotiating or drafting a commercial lease, however, the parties should not simply aim to satisfy the minimum legal requirements under Florida law. Instead, they should be as detailed as possible and especially attentive to some seemingly straightforward matters.
For example, it is important to make sure that each party's legal name is accurately listed on the document. If one party is a corporation or an LLC, that designation should be included. Describing the premises in detail is also essential to avoid confusion or future complications. If a tenant is renting an entire building, it may be sufficient to simply state the address of the building. However, if it is renting a specific floor or room, you should describe the space more specifically. The lease also should outline whether the tenant will have access to parking facilities, building amenities, conference rooms, and similar areas.
The agreement should clearly state the length of your lease, including specific start and end dates. The start date should correspond to when the tenant actually obtains access to the premises, when the rent is due, and when it is responsible for acquiring insurance. Regarding the rent, it is vital to state the specific amount and the increments at which it is due. The tenant should understand which costs will be passed on to it by the landlord and which costs it will be able to pass on to the landlord.
Other key aspects of a commercial lease include clauses involving security deposits, improvements and alterations, maintenance, code compliance, options to renew, breaking the lease, insurance, and more.Seek Guidance from an Fort Lauderdale Lawyer for Your Property Transaction
At the law firm of Stok Folk + Kon, our pragmatic property lawyers handle all types of commercial real estate transactions in and around the Fort Lauderdale area. We have the knowledge and experience to tackle these complex issues, and we have earned a strong reputation in the community due to our determination to resolve legal matters diligently and efficiently. You can expect the utmost professionalism from our entire team. We proudly represent clients from Hollywood and Fort Lauderdale as well as throughout the rest of Florida. To find more information, call us at (954) 237-1777 or contact us online to arrange a confidential consultation.