who is a real estate lawyer that would review a lease agreement?

Full Answer

Do I need a lawyer to review a commercial lease?

When looking to keep costs down, it’s only natural to contemplate whether or not you actually need to hire a lawyer to review a commercial lease you are considering. Surely it can’t be too hard to look over the lease yourself, can it? That depends.

How can a landlord/tenant lawyer help with a lease?

The attorney's expertise in landlord/tenant disputes and leases can help avoid potential problems that may arise by recommending additional clauses that should be added to the lease and clarifying ambiguous language.

Do I need a lawyer to sign a lease agreement?

You may want to ask a landlord-tenant attorney to review the lease agreement with you before you sign it. An experienced lawyer who practices in this area will be able to: Suggest changes and additional terms.

Can a preprinted lease agreement be reviewed by a lawyer?

In fact, a preprinted form should be reviewed very carefully, because its provisions will probably greatly favor the landlord. You may want to ask a landlord-tenant attorney to review the lease agreement with you before you sign it. An experienced lawyer who practices in this area will be able to:

What is flat fee agreement?

In a flat fee agreement, you pay the same amount regardless of how much time the lawyer spends on the particular job. When an attorney is highly recommended by others and the flat fee is moderate, this can be a great arrangement for you.

How much does a lawyer charge per hour?

Paying your lawyer by the hour is the most common method. In most parts of the United States, you can get competent services for your small business for $150 to $250 an hour. Most lawyers bill in six-, ten-, or 15-minute increments. Understand that these are the smallest "chunks" of time that the lawyer will bill for, ...

Can a lawyer work for a fixed fee?

But if the assignment is open-ended—for example, it might involve extensive negotiations or a lot of redrafting—a lawyer won't agree to work for a fixed amount. Merely reviewing a lease is one thing—negotiating and drafting is quite another.

Can a lawyer delegate work to a secretary?

If your lawyer will be delegating some work to a less experienced associate, paralegal, or secretary, the delegated work should be billed at a lower hourly rate. Your fee arrangement should specify the rates for associates and paralegals if they will be in the picture.

Do lawyers have to be free from government regulation?

Unlike physicians, for example, who have insurance companies and the government monitoring virtually every move, lawyers are free from heavy-handed regulation. As a result, many choose to avoid bureaucratic paperwork, which they regard as a time-consuming nuisance.

What is a lease referred to as?

The lease might refer to you, the renter/tenant, as the "lessee" and the landlord as the "lessor." The space you are renting may be referred to as the "premises" or the "leased premises."

What happens if you break a lease?

The lease may have a provision saying that if you break the lease you will automatically have to pay the landlord a stated amount of money. This kind of provision is called a "liquidated damages clause.". It means that the landlord will not have to prove the actual amount of money damage your breach would cause.

What is a lien on a property?

Watch out! A "lien" is a right to claim somebody else's property if any stated condition, such as nonpayment, occurs. The lien will give the landlord the right to take your property away to satisfy your debt without having to prove to anybody that you have failed to pay or that the landlord has suffered a monetary loss.

Can a landlord approve a sub-tenant?

It probably won't, but if it does, the clause will likely state that the landlord must approve of your sub-tenant. Make sure that the clause also says, "approval shall not be unreasonably withheld."

Is a lease a contract?

A lease is a contract, so you will want to understand what it says and how it will affect you. And because a lease is a contract, you may be able to negotiate changes to it, even if it is a preprinted form. In fact, a preprinted form should be reviewed very carefully, because its provisions will probably greatly favor the landlord.

Can an automatic lien be enforced?

While most courts would decide that the automatic lien provision could not be enforced, it's easier on you if that clause isn't even in the lease. TIP: Do not rely on the landlord's spoken promise not to enforce some provision, such as the no-pets provision.

Is real estate complicated?

Real estate laws can be complicated, especially if your lease contains provisions with legal jargon. In such cases, it may be worth your time to speak to an attorney familiar with landlord-tenant laws before signing a lease to ensure your rights are protected.

Will you personally represent me throughout the entire lease review and lease signing process?

Lawyers love to delegate their work. If you are comfortable with that, then confirm which other associates will be handling your case. If your attorney will not be delegating your case to anyone else, then no further concern is needed on your part in reference to this question.

How will you charge me for your legal services?

Lawyer’s typically charge their client two ways: hourly and flat fee. The attorney sometimes changes up their fee requirements depending on the case. As an example, suppose an attorney always does a flat fee but you come in with a 75-page commercial lease for them to review.

How accessible will you be during this entire process?

The legal profession is a highly competitive field. It does happen that a lawyer cannot simply get back to your phone calls, texts, and emails immediately. A reasonable response time from your attorney on your questions or comments should be within 6-8 hours.

Why do you need an attorney to check your lease?

It makes sense to have an attorney check your lease to protect your investment. The attorney understands your business goals and can make recommendations to correct any matters that may jeopardize your business interests.

What are the provisions of a lease?

There are certain lease provisions that are problematic and cancreate disputes between landlords and tenants. They shouldbe carefully reviewed by your attorney before you enter into a lease or renegotiate your lease. These provisions include the following: 1 Common area charges (CAM) 2 Signage 3 Use restrictions and zoning regarding the use of the space 4 Rent increases and methods used to calculate them 5 Tenant improvements. Who is responsible? 6 Options to renew 7 Insurance requirements 8 Assignments

Can a lease clause cost money?

There can be many pitfalls in lease clauses that you may not understand that could cost you money.You need to understand all your responsibilities clearly. An attorney can identify these problem areas, and make suggestions on how to correct them in your favor to avoid problems down the road. It makes sense to have an attorney check your lease to protect your investment. The attorney understands your business goals and can make recommendations to correct any matters that may jeopardize your business interests.

How do lawyers make money?

Lawyers make money when there are problems. They have no incentive to keep you from having problems. Their contracts are usually written in a way that is confusing, which gives a tenant an argument against your terms - they were too unclear, etc.

Can I use BiggerPockets lease?

I may use the BiggerPockets lease or continue with my existing lease and add a little bit based on suggestions that the attorney had made.

Can a lease guarantee a tenant will abide by everything?

First, there is no lease on the planet that will guarantee a tenant will abide by everything that's in it. Only good tenant screening can protect you to the best degree, and then follow that up with a month to month agreement, in case your best-screened tenant decides to move in some crazy lover or a pit bull.

Can you add addendums to MLS lease?

Most of the MLS have standard leases you can use. They address most issues and have already been reviewed to meet your state requirements. You can then add addendums to cover things not addressed. I added addendum A which are the rules in the building and the exterior. Addendum B are cost for repairs. I added to the lease renters insurance is required and the minimum amounts. Save your money. I agree with @Sue K. there is no lease that is perfect and there is no guarantee tenants will follow it anyway.

Why do landlords need a lawyer?

1. The very act of hiring a lawyer shows your landlord that you’re serious and can’t be easily pushed around or deceived. Landlords will be less likely to overstep knowing you have a lawyer on hand who can and will initiate legal action at the first sign of wrongdoing. 2.

What is lease protection?

It's the wording that you have to watch out for. A lease protects the Landlord, so it's favoured in their direction naturally as they are protecting their asset in which they receive cash flow, but a Tenant also has rights they need to be looked after.

How long is a commercial lease?

Commercial leases are typically 3 to 5 years in length. That will feel like an eternity if you are stuck with a lease that is seriously skewed to your landlord’s advantage whether its with arbitrary management fees or ridiculous eviction clauses.

Can you sign a multi-million dollar lease without a lawyer?

Anyone considering signing any kind of multi-million dollar long-term lease/agreement including entry/exit clauses without involvement of a lawyer or subject matter expert should not be holding such level of "authority to decide" ...

Do lawyers pay for themselves?

3. (Good) lawyers PAY FOR THEMSELVES. No really, they do. While having a lawyer may initially be an extra expense, he or she seriously has the ability to maximize your return on investment by saving you hundreds or even thousands over the years. Hiring a lawyer (should) cost less than one month’s rent. It’s therefore worth at least seeing if your lawyer can get you a better deal for the length of your lease.

Is commercial lease review affordable?

Commercial lease review services are more affordable than you think, especially if you consider a legal expert from Groundworks Commercial Leasing, which has been called the “UBER” of law firms because there is no overhead or mahogany desks to pay for. You just get quality advice quickly and affordably.