Resolving Leasing Disputes with the Help of a Real Estate Lawyer in Moline, IL

by | Feb 21, 2022 | Lawyers and Law Firms

If you’re a small business owner, signing your first commercial lease can be a daunting experience. The terminology may be unfamiliar, and you may not know how to negotiate a fair rental rate. The stakes can be very high-;your livelihood and life savings may hang in the balance. In this article, the David J Franks Attorney-at-Law will tell you how commercial leases address your needs while protecting the interests of the landlord.

How Commercial Leases Fulfill Your Needs

In the past, business owners had fewer protections than residential renters, because the courts believed that the former had more negotiating power. However, just as residential landlords must ensure the livability of a property, commercial landlords must ensure that their properties are fit for business use. This can include making structural repairs, complying with building codes, ensuring that your business isn’t disrupted, and fulfilling the terms of your lease.

Exclusive Property Use

Exclusive use signifies that you want to ensure that competitors won’t rent space close to yours. If a close competitor opens up shop in the same building as you, you’re likely to see your profits decline. By asking for a non-competition clause in your commercial lease, you can prevent such losses from happening.

However, from your landlord’s point of view, limiting tenant types can diminish future commerce opportunities, especially if multiple tenants ask for exclusive use. Your landlord may ask for concessions in exchange, or charge a higher rent. You’ll have to iron out the details with your landlord, and ask your Real Estate Lawer Moline, IL to review the lease before signing.

If You Sell/Transfer Your Business

During the lifespan of a business, it may change hands several times. If you sell your business to someone else, you’ll have to ensure the enforceability of your old lease, or the new owner will have to create a new lease.

If You Can’t Pay Your Rent

If you can’t pay the rent on your commercial space, you will be treated in much the same way as a residential renter. The primary difference between commercial and residential evictions is that you have fewer protections as a business owner.

Hiring a Real Estate Lawyer to Handle Landlord/Tenant Disputes

Most disputes are easily handled between you and your commercial landlord, but some cases may require special assistance. A David J Franks Attorney-at-Law in Moline, IL can answer leasing questions and help you resolve disputes.

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