Residential and Commercial Leases Are Different

With residential leases, you are not going to use a lawyer all the time to set up a rental.  A commercial lease, however, is more sophisticated. Residential landlords own the dirt and the building they are leasing out.  Commercial leases, however, have a lien on the stuff inside the building.  As a commercial tenant, you cannot just leave in the middle of the night.  Your landlord has a lien on your furnishings and equipment. Also, unlike a residential lease, a commercial landlord can put a chain on your door in certain circumstances, denying you access to your property and rental space. Do not get stuck in a lease you do not understand.  Whether it is residential or commercial, if you do not understand the terms of the lease, seek competent legal counsel to look over your shoulder.  An attorney who represents you and only you can help ensure you are getting wheat you think you are getting.   Read More

Does A Commercial Lease Have To Be Witnessed?

Commercial leases are usually for more than one year.  They are typically longer than residential leases because of build-out expenses (which you do not normally have with residential leases).  So, does a commercial lease have to be witnessed? Yes.  According to the Statute of Frauds, if an agreement is for more than one year it has to be witnessed…but it does not have to be notarized. You may want legal counsel to help ensure you get what you think you are getting in a contract, and also so that the agreement is properly executed and enforceable.   Read More