Knoxville Lease Agreement Attorney
When done right, leases provide protection to both landlords and tenants. Unfortunately, getting locked into a terrible lease is a real possibility when parties do not perform their due diligence and when they fail to think strategically. At Atkins Brezina, PLLC, our Knoxville lease agreement attorney offers creative solutions for our business clients, and we can explain more in a consultation at our firm or over the phone.
Basic Elements of a Lease
A lease should be comprehensive and clear, so everyone understands what is required. When drafted in a sloppy manner, a lease can seriously impair a party’s rights and actually create conflict.
Here are some basic elements of a Knoxville lease:
- Base rent: This is what the tenant owes the landlord for occupying the space.
- Additional rent: Because the landlord’s operating costs increase over time, many of them want to include additional rent so tenants defray some of the increase.
- Lease term: This is the duration of the lease. A short-term lease gives tenants the power to move sooner, but a longer lease allows the tenant to lock in rent, which might fluctuate with market conditions.
- Options for renewal: Landlords do not have to renew a lease, but a tenant could negotiate an option for renewal.
- Permitted use: A lease should identify how the tenant can use the space.
- Maintenance and utilities: The lease should identify a method for paying for utilities and maintenance of common areas.
- Security deposit: Most landlords require a tenant to pay a security deposit when they sign the lease.
There are many risks with leasing, including a business suddenly becoming unprofitable. Other issues of concern involve leasing to a competitor, signage rights, and legal liability for premises defects. You should work closely with a Knoxville lease agreements attorney to ensure you are protected.
Why Atkins Brezina is the Best Firm to Call
Why are we the best firm in Knoxville to handle the creation, revision, or negotiation of your lease? We bring:
- Deep real estate knowledge. We stay on top of trends in the market and understand the shifting landscape of commercial real estate.
- Strategic decision-making. Contrary to what many people think, leasing is not a “standardized” process. Any term in a lease is potentially up for revision or debate. We always think about how to protect our client’s interests when negotiating the terms.
- Proactive solutions. We know what issues are likely to crop up between landlord and tenant, and we address how to resolve them in the lease. For example, mediation or arbitration or more cost-effective methods of resolving disputes.
- Efficient representation. We save our clients money by handling their issues in an efficient and cost-effective manner.
Our firm can draft a lease from scratch, revise an existing one, or negotiate with the other side on your behalf. Both tenants and new landlords should secure legal assistance before locking themselves into a multi-year lease. Please call us to find out more about our legal services. A Knoxville lease agreement attorney is standing by.