For those of you who aren’t very familiar with this term, it represents a contract between a company (which is a tenant in these instances) and a landlord. This agreement allows the tenant to utilize/rent a particular property for a certain amount of time, of course, for a specific amount of money.

Although all of this may sound relatively simple and straightforward, what you need to know, is that, just like many other contracts, this one comes with specific risks as well, however, if you would like to know how to properly address any issues that may come along the way, then these are the strategies you must resort to.

A Legal Assistance May Come In Handy

It doesn’t matter whether you’re a landlord who wants to properly safeguard his property, or you’re a tenant who wants to know all their rights, in both instances, legal advice and guidance are desirable, particularly, if you’ve never signed this type of agreement before.

So what does this mean? It means that it’s a good time to consider lease attorneys because these professionals perfectly navigate the complex world of commercial leasing and will be able to offer you the necessary guidance.

On the flip side, if you encounter certain problems regarding your tenants/landlords, your advocate will help you navigate these issues, and, at the same time, protect your rights. That’s at least what lease lawyers in Sydney do when they are hired. Bear in mind that these contracts can oftentimes be puzzling and complicated, especially for the first-timers, hence it’s always advisable to have a legal expert on your team to guide you.

You Need To Determine Who Is Responsible For What?

This is probably one of the most common mistakes (referring to both landlords and tenants) when it comes to this. Creating a commercial leasing contract must involve lots of different things to ensure that both sides are content.

One of those is that you two need to figure out who is responsible for what. This refers to issues, such as maintenance and repairs. You may not perceive this as something that's ultra-relevant, but precisely these sorts of things have caused different problems and disputes numerous times in the past, not to mention huge costs too!

That’s precisely why both of you need to allocate these duties before you sign anything. If you are unsure about certain aspects of it, then you can always consult your solicitor.

You Need To Be Familiar With Operating Costs

This segment is dedicated to companies that want to be tenants. If your firm is about to become one, then it's pivotal to understand everything in regard to operating expenses, which include taxes, utilities, and insurance.

These things aren’t cheap and in fact, can be a massive financial burden if they aren’t defined the right way. Consequently, if you want to avoid any unpleasant surprises, then these are the factors that you must consider.

A vast majority of agreements come with numerous pitfalls, that may result in serious consequences. Well, the situation is no different with a commercial leasing contract, however, if you follow the above-mentioned tips, you just might be able to avoid them.