Commercial Lease Lawyers in Colorado
Commercial leases and real estate transactions present financial and investment opportunities, as well as great risks. Our experienced Longmont real estate attorneys at Jorgensen, Brownell & Pepin, P.C. will help review or negotiate your commercial lease to make sure that you avoid some of the common traps for the unwary that can have unintended and devastating effects.
Without the assistance of experienced counsel, many tenants enter into a lease with a provision for CAM costs without understanding how high these charges could potentially be. We will ensure that this provision is reasonable, and prevent common abuses that arise when the landlord attempts to use these CAM costs for their own improvements to the building instead of standard maintenance expenses.
For legal counsel, call (720) 809-8310 for an initial case review.
Potential Liability Issues & Risks
Tenants in retail environments may also run the risk of facing steep charges when the lease provides for a percentage of gross sales of the business. Not only does this open you up to additional charges, but this gives the landlord an opportunity to review your financial books, which invades the privacy of the tenant and places you in a disadvantage for the next lease renewal.
Another common provision to be wary of is a clause requiring a personal guarantee, which makes the individual personally liable under the contract. This can expose you personally to significant liability.
We are familiar with common lease violations and ways to ensure compliance. There are varying levels of breach under commercial leases, and a commercial lease may only be broken when the breach frustrates the purpose of the lease. For instance, when a tenant withholds rent due to some action by the landlord, many landlords will attempt to evict the tenant. However, this is generally not a proper remedy under Colorado law, and such action will actually interfere with the landlord's ability to recover damages.
Jorgensen, Brownell & Pepin, P.C.: Working Hard to Protect Your Interests
Under common law, landlords cannot unreasonably withhold the right to assign the lease. It is important to consider whether the landlord must pursue the assignor first before the guarantor, and to decide ahead of time whether the original tenant or guarantor will remain liable if the assignor renews the lease. By having our team of experienced real estate attorneys at your side, we will ensure that you don't fall victim to these common traps and make sure that your interests are protected.
For more information about how we can assistyou, please contact us today.