SC Commercial Lease Agreement Attorneys in Myrtle Beach
When it comes to commercial lease agreements, SC law provides fewer requirements and protections than it does with residential lease agreements.
This is because a commercial lease agreement is a business contract where the parties are presumed to be on a more equal footing than residential landlords and tenants. This also means that, whether you are leasing commercial space or seeking a commercial lease that will benefit your business, you should consult an experienced commercial lease agreement attorney to negotiate a contract that protects you and your business and meets your business goals.
Your Myrtle Beach commercial lease agreement lawyer on the Axelrod team can help you to negotiate and draft a mutually beneficial agreement that includes the essential provisions and terms for a wide range of contingencies based on the unique circumstances of your business and properties.
Important Commercial Lease Agreement Terms
Your commercial lease agreement attorney must understand the requirements and terms that will meet the unique needs of your business and properties.
Although each contract is negotiated and executed after careful consultation with our client, most agreements will include the following common provisions:
- The rent amount based on the square footage of the space, location, and building materials,
- Details about which party is responsible for costs including utilities, property taxes, insurance, and repairs,
- Rent increases – whether there will be an annual percentage-based rent increase or a cap on rent increases,
- Security deposit including the amount of the deposit and any preconditions for the return of the deposit,
- The length of the lease, whether it is long-term or short-term, and whether there will be an option to renew,
- Whether improvements may be made to the property and who will be responsible for payment for improvements,
- A detailed description of the property that is being leased including common areas, parking facilities, and outdoor areas,
- Signage including what is permitted under the agreement and what is prohibited by the agreement or local zoning ordinances,
- Permissible uses of the property including the tenant’s expected business activities and any prohibited uses,
- Exclusivity clauses that prohibit the landlord from renting nearby spaces to the tenant’s competitors,
- Whether assigning or subletting the lease is prohibited or under what circumstances it will be permitted, and
- Compliance with the ADA or other federal and state laws and who will be responsible for renovations to the property if required to comply with the ADA or other laws.
Commercial Lease Agreements vs. Residential Lease Agreements
Tenants and landlords often do not retain counsel to negotiate residential lease agreements, but commercial lease agreements are different.
- Consumer laws like the Residential Landlord Tenant Act do not apply to commercial leases – there are no
mandatory lease provisions, and there are fewer protections for landlords or tenants because the parties to a
commercial lease are expected to be more sophisticated, knowledgeable, and on an equal footing than the parties to a residential lease,
- Flexibility in terms – whereas residential lease agreements are often executed using a standard form, commercial lease agreements will need to be tailored to meet the specific needs of both the landlord and the tenant’s businesses,
- Negotiable terms – commercial landlords and commercial tenants typically understand that the terms of their commercial lease agreement can and should be negotiated to meet their specific needs, and
- Length of lease terms – commercial lease agreements are often entered into for longer periods – multiple years in many cases – than residential lease agreements. This means that, if you enter an agreement with unfavorable terms, you may be stuck in that lease agreement for a longer time than you would have under a residential lease agreement.
Negotiate Your Commercial Lease Agreement with Favorable Terms
The commercial real estate attorneys at Axelrod and Associates draft, review, and negotiate lease agreements for SC commercial landlords and tenants in many different situations that require specific lease agreement terms to protect our clients’ interests, including:
- Retail space,
- Storage facilities,
- Single unit leases,
- Multiple unit leases,
- Shared office spaces,
- Industrial uses,
- Government leases,
- Special-use leases,
- Build-to-suit leases, and
- Green leases.
Depending on our clients’ unique circumstances, we may need to include favorable terms to protect our clients’ interests like:
- Conflict resolution for breaches of the lease agreement,
- Specified remedies in the event of a breach,
- Default provisions,
- Arbitration agreements,
- Common area maintenance charges, or
- Personal guarantees – if you allow your tenant to sign solely as an agent of their business and not in their
personal capacity, you may find that you have no recourse when the tenant’s business breaches their agreement.
Commercial tenants or landlords may require contingency clauses that will protect their interests by making the lease agreement contingent upon:
- Inspection reports,
- Environmental cleanup liens,
- Permits and zoning approval,
- Required renovations to the property, or
- Favorable surveyor, inspection, or engineer reports.
Commercial lease agreements, unlike residential lease agreements, should be detail-oriented and tailored to each transaction. Your Myrtle Beach commercial lease agreement lawyer on the Axelrod team has extensive experience negotiating and drafting favorable agreements for our clients, and we are also available to review your existing commercial leases.
Your SC commercial lease agreement attorney on the Axelrod team can help you to negotiate a commercial lease agreement, draft and execute your lease agreement, or review your existing lease agreements to ensure that they contain the terms needed to meet the needs of your business.
Call today at 843-353-3449 or complete our contact form to set up an initial consultation to find out how we can help.