COMMERCIAL REAL ESTATE LEASES

Leasing commercial space in NYC is challenging to say the least. We will help you from start to finish and make sure the proper terms are in your commercial lease agreement.

COMMERCIAL REAL ESTATE LEASES

Leasing commercial space in NYC is challenging to say the least. We will help you from start to finish and make sure the proper terms are in your commercial lease agreement.


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Will the commercial lease fit your business?

Before getting into a lease agreement you should carefully look over all the terms and make sure it fits your needs

Commercial leases have fewer consumer protection laws which means you are not subject to most consumer protection laws that govern residential leases. Some examples are no caps on security deposit or rules protecting tenants privacy.

You cannot easily break or change commercial leases. Commercial leases are usually long-term, binding, and a good amount of money is at stake.

The positive side is that there are no standard forms for leases. There is room for negotiation and flexibility. Most business need special features in their space and these terms should always be included in the terms of the agreement. Each commercial lease should be customized to the business owner and landlord.

Important lease terms to consider.

  • Length of the lease (lease term)
  • Renewal option
  • Rent
  • Rent increases and how they will be calculated
  • Whether rent includes insurance, taxes, maintenance, etc.
  • Security deposit
  • Conditions for security deposit return
  • Exact space being rented
  • Whether there will be any modification done to the space
  • Specifications for signs
  • Responsibility for maintenance and repairs (including heating and air conditioning)
  • Can the space be assigned or subleased by the tenant
  • Whether the space can be expanded
  • Dispute resolution (mediation or arbitration)

*Not limited to the above mentioned

 

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New York, NY 10004
(212) 838-8500

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New York, NY 10022
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Brooklyn, NY 11249
(718) 355-9671

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Brooklyn, NY 11201
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3537 36th Street
Astoria, NY 11106
(718) 313-0191