As either a tenant or a landlord, a clear and strong lease will help you understand your obligations and protect your rights. These agreements typically establish the duration of a lease, as well as the amount and payment schedule of rent. Some of the additional provisions may include policies regarding the security deposit, conditions for early termination, acceptable use of the space, responsibility for additional costs, liability and whether subletting is permitted.
A commercial or industrial lease can be a major obligation for a business owner, and an attorney can assist you in making sure that the rights and uses permitted in the lease are a good fit for your business’s immediate needs and future growth.
In some cases, a license may be more appropriate than a lease. While a lease conveys an exclusive leasehold possession of a property, another type of agreement, a license, is only a privilege to act on a property but does not provide the same possessory interest. A lawyer can advise you on what makes the most sense in your situation.