There are leases, and then there are … leases.
We referenced the comparative variety of such contracts in our immediately preceding blog post, noting in our July 12 entry that residential and commercial leases are far more different than they are similar.
The latter, we stressed, are “generally far more complex” and spell “a distinct challenge” for Colorado business principals and investors, as well as their counterparts nationally who seek attractive commercial opportunities in the Centennial State.
At the same time, though, commercial lease negotiation and execution is an opportunistic endeavor. That is, a lessee who proceeds in concert with an experienced Colorado real estate attorney commanding proven business acumen can fashion lease terms that are optimally advantageous.
As noted in one in-depth online overview of commercial leases, advantages can be negotiated for across a broad spectrum of considerations.
One of those is obviously rental amount, where negotiation can address matters such as covered square footage and payment for costs relating to taxes, insurance, repairs, utilities and additional matters. Lease length, too, is understandably of notable concern to a lessee; the above primer stresses that it often avails a would-be tenant to seek a short-term period with a renewal option rather than acceding to a lessor’s pushing of a longer term.
Seasoned legal counsel’s input will extend to myriad other matters, as well. Which party will pay for improvements? Is there a security deposit and, if so, what are its terms? Can an exclusivity clause be contractually inserted that protects a business lessee against commercial rivals? Can a sublet provision be carved out?
“Commercial lease law is constantly changing,” stresses the above-cited article. A Colorado attorney with a deep and demonstrated background in commercial and real estate transactions can help a client deal with complexities and pursue opportunities to maximum benefit.