Chicago Litigation Attorneys Oversee Lease Transactions
Helping companies get favorable terms for real property and equipment rentals
For most companies, leasing the premises and equipment needed to operate makes more sense than buying. Of course, that only works if the business gets reasonable terms in its lease agreement. An onerous lease can arrest your cash flow, expose your business to liability and put you at a competitive disadvantage. That’s why you need an experienced legal team to negotiate the various aspects of your lease agreement. Schwartz & Kanyock, LLC has more than 50 years of combined commercial law experience, including finance leases, sale and leaseback agreements, and operative leases. We have successfully litigated numerous commercial real estate disputes; our informed view of what can and often does go wrong motivates us to insist on provisions that protect your commercial interests.
Experienced litigation attorneys anticipate tough lease questions
Our leasing transaction attorneys help businesses negotiate leases of retail sites, restaurants, industrial sites and heavy equipment for construction and manufacturing. At Schwartz & Kanyock, LLC we understand that your business success may well be riding on the terms of your commercial property lease, such as:
- Premises — What are the precise boundaries of the leased space?
- Use — Are there any restrictions on the use of the space that might hinder the lessee’s business?
- Exclusivity — In a mall setting, is there any other tenant providing similar goods or services?
- Term — How long can the lessee occupy the space? When does occupancy begin?
- Options to renew — Does the lessor or the lessee hold the option?
- Rent — What compensation must the lessee pay? In cases where a tenant pays a percentage of sales from the premises, what accounting methods shall be used to verify amounts due?
- Sublet — Does the lessee have a right to sublet the space in part or in its entirety?
- Maintenance — Which party is responsible for upkeep of the premises?
- Utilities – Who pays for water, heat and electricity?
- Improvements and alterations — Who pays for modifications to the space to accommodate the lessee’s business?
- Code compliance — Who is responsible for assuring the premises meets health and safety standards?
- Parking — Is parking available for customers, and is there a surcharge to the lessee?
- Signage — Is signage in common areas adequate to alert potential customers about lessee’s business?
- Landlord’s entry — What restrictions are placed on the landlord’s entry to inspect the premises?
- Security — What security measures shall be taken and who shall bear the cost?
- Insurance — Is lessee responsible for maintaining liability insurance? If the lessor covers insurance, how can lessee be sure of adequate coverage?
For commercial lease negotiations in the greater Chicago area, see Schwartz & Kanyock, LLC
To thrive, your business must avoid the competitive disadvantages that come with onerous lease agreements. Schwartz & Kanyock, LLC can negotiate favorable terms to enhance your business prospects. To schedule your initial consultation, call today at 312-436-1442 or contact our firm online.