Do You Understand The Regulations of Commercial Real Estate?
Commercial real estate law regulates the sale and transfer of commercial properties. It also covers commercial leases, matters of land use, zoning issues, and even liquor licensing. In these matters, disputes are common and outside parties may have to step in.
Commercial real estate is a complex area of law. If you have an issue in commercial real estate, it is important that you find someone with experience with your particular matter so that they can provide the best advice possible.
For example, if you are thinking of trying to decide whether to purchase or lease a commercial property, a commercial real estate attorney can help specify certain factors to pay attention to in order to make the best decision. For instance, he or she may ask you to consider the type of business you want to engage in, how long you may wish to stay in one location, and whether or not your company has established credit.
Commercial real estate attorneys may also help you identify the different types of commercial leases. These include fixed leases, step leases, and gross leases. A fixed lease involves a specific amount of rent to be paid for a set period of time. A step lease involves a increase in the rent a certain amount yearly to acknowledge potential cost increases that the landlord may incur. In a gross lease, the tenant will pay a periodic rent to the landlord and the landlord will pay for some or all of the operating costs of the business.
If you choose to buy a commercial real estate property rather than leasing, then there is a whole other set of matters to consider. A commercial real estate attorney can help explain some of these procedures or regulations. For instance, there is a rule stating that a seller cannot actively hide a defect in order to get your to buy the property, and another rule that makes a point that it is the buyer’s duty to hire someone to inspect the property before making a purchase.
All in all, if you are considering leasing or buying a commercial real estate property, there are many matters that you have to consider. All of these regulations, procedures, and choices can be overwhelming, so it can be highly beneficial to hire someone to help guide you through the process. A commercial real estate attorney will make sure that your interests and concerns are represented through the negotiation process, and will help you make a choice between buying or leasing a property. He or she will also help you follow local land use and zoning laws for your business.
KFB-Law has a number of attorneys who specialize in commercial real estate law and who would be happy to help you find the perfect place for your business. Get in touch today, we work for you, we fight for you!