You may find yourself considering leasing a commercial property for your business. Without a doubt, a commercial lease is a significant commitment for a business owner. The long-term nature and financial obligations of commercial leases are two reasons they should be thoroughly understood before you sign.
Commercial lease reviews
Often commercial leases can be straightforward. However, always essential to have an experienced property lawyer review your commercial lease to make sure the outgoings are correctly reflected in the lease, the rent review clauses are not too arduous, and the make good provisions are appropriate.
Selling your commercial business
The transfer clause is another critical aspect of a commercial lease you need to understand as a business owner. Often part of the value of your business is the location you may occupy. Therefore it is essential to ensure you, as the business owner, can transfer the lease to the third party should you sell the business. While you may not be ready to sell your business since you are just leasing commercial property, it is vital to make sure the terms and options reflect what you may need in the future. An experienced property lawyer will be able to assist you in negotiating terms that work for you; now and in the future.
Indemnity clauses in commercial leases
Finally, the indemnity clause is another aspect of a commercial lease that business owners need to understand. A Geelong business lawyer can request limits to the scope of an indemnity which would apply only to specific situations or types of claims. If you choose not to add limits to the indemnity clause, you could be held responsible for losses beyond your control. Having an experienced lawyer negotiate your commercial lease protects yourself and your business
Commercial lease dispute lawyers in Geelong
Without a doubt, disputes are a fact of life. If you find you or your business embroiled in a dispute, contact Whyte, Just & Moore’s dispute lawyers in Geelong, to discuss your matter. Often disputes can be handled through alternative dispute resolution methods allowing you to stay on the premises. And if on the off chance your dispute matter ends up in court; the legal team at WJM is there with you every step of the way, litigating on your behalf.
Lawyers for Geelong, Bellarine & Surf Coast
As a full-service legal firm, Whyte, Just & Moore offers legal advice and services for businesses across Geelong and the Bellarine through to the Surf Coast. Contact the Whyte, Just & Moore legal team by phoning 03 5222 2077 or emailing info@wjmlawyers.com.au.
