Many businesses opt to rent office space instead of purchase. There are many advantages to renting because it reduces the business owner’s liability on the property. However, in order to reap the benefits of being a renter instead of an owner, you should definitely have certain agreements in place. This will ensure that you have the best protection and can avoid time-consuming and costly problems in the future.
Office Lease Agreement
At the top of the list of important documents is the office lease agreement. This single document will clearly outline the details of the lease including cost per month, deposits, rules and restrictions and the responsibilities of each party. However, keep in mind that a commercial lease agreement differs from residential lease agreements. Commercial lease agreements usually have longer terms, fewer protections, and more negotiable terms.
A maintenance agreement may be part of the office lease agreement or may be a stand-alone document. This particular agreement outlines who is responsible for which costs and repairs that occur during the lease. Some property owners prefer to handle all repairs on their own so they can ensure that property is maintained in a certain way. However, other owners prefer the renter to handle all or some repairs.
Deciding who should be responsible for what type of maintenance is something that is unique to each situation. Sometimes, renters prefer to have their own ability to repair things so they don’t have to wait. However, some renters prefer to save the cash and have the maintenance handled by the owner.
Consult a Contract Law Attorney
If you are a business owner or a property owner looking for more information about agreements, then you should seek the help of a qualified contract law attorney. LawTrades is a marketplace of freelance attorneys that connect clients with the best lawyer for their needs. We also offer subscription-based legal plans for individuals who may need ongoing legal services. This option comes with several attractive features sure as a $0 service fee and a reduced hourly rate. Contact our offices today to begin your journey of quality legal help.