Are you looking to start your own bricklaying business, or expand your already existing bricklayer business? If so, you should place great weight on understanding the legal implications associated with entering into a commercial lease. It is always important to have surety and consistency when running a business. In the bricklaying business, this is even more the case. If there is competition in the market, or a downturn in construction, the last thing that you want to be dealing with are issues surrounding your commercial lease. In business, some things must be certain, and your commercial lease should be the most certain of all.
How can a commercial lease affect my business?
If your commercial lease is unclear and ambiguous, it is almost certain that it will cause you a significant headache throughout its term. First and foremost, a commercial lease has a direct effect on your bottom line. If your commercial lease stipulates that the rent may be revalued, as most do, it is crucial that you are able to predict roughly what this revalued amount will be. If your commercial lease is unclear in this regard, you place yourself and your bricklaying business at the mercy of the property owner. While it is possible that you may have a great relationship with the owner of a commercial property, the last thing you would ever want to do is stake the future of your business on the goodwill of someone else. Consequently, it is vital that before entering into a commercial lease, you ensure that the revaluation of rent occurs within the timeframe that you desire, and is judged by criteria that you believe to be fair.
Secondly, and somewhat obviously, a commercial lease affects the length of time in which you will be able to occupy a property. It is very difficult to run a business without a commercial property. You will need to store your materials somewhere and very often you will need a place in which customers can come to you. There is nothing more disruptive to a business than having to move property unexpectedly. Such an event would require you to pay for removal and change location to what, more often than not, may be a less than desirable premises, as you were unable to take the time and care to search for a new location at your leisure. Very often, such a misfortune occurs to a business when the option to renew, which is present in most commercial contracts, is unclear. An option to renew allows you to continue using the premises beyond the term of the original lease if you so desire. However, if you do not exercise this option, you will have to renegotiate a new lease entirely. Consequently, if the option to renew for your bricklaying business is not thoroughly thought through, you will once again be leaving yourself at the mercy of the goodwill of the property owner. This is a situation that should be avoided at all costs.
Can I create my own commercial lease?
It is certainly possible for you to create your own commercial lease, however, that does not meant that it is necessarily advisable. Rest assured, the property owner will typically be seeking legal advice, so it is recommended that you do the same for your bricklaying business at some point throughout the process. This does not mean that you need to place yourself entirely in the hands of a legal professional, as your ideas and input will be vital in creating a commercial lease that works best for your business. A legal professional will simply be able to ensure that your commercial lease will hold up in a court of law, thereby allowing you to be confident in the knowledge that your business will continue to prosper as planned. If you would like to see how a legal professional can assist your business, please click here.
Are you looking to start your own bricklaying business, or expand your already existing bricklaying business? If so, you should take great care to avoid the legal pitfalls that surround the signing of a commercial lease. This will allow your business to grow and prosper, and often give you an advantage over your competition by giving you the stability that your business needs. It is important that you seek the advice of a legal professional at some stage during the process, to ensure that your commercial leases are legally sound. If you have any further questions regarding how commercial leases can affect your business, please call LegalVision for a fixed-fee quote.