Menu Contact
Tilford Dobbins & Schmidt, PLLC
Call
502-584-1000
For A Consultation
Practice Areas Menu

What should you know before you sign a commercial lease?

Renting commercial space is a big decision for your company. It can sometimes be a lengthy and tedious process. Giving yourself a window of six-to-nine months to secure a lease is a sound approach. You should begin renewal negotiations nine to twelve months before your lease expires to give yourself relocation options if things don't work out.

Real estate agents may not necessarily help you secure the best terms for your lease, especially if they've had prior dealings with the landlord before. It may be essential to involve a lawyer in the negotiation process to ensure that the lease is legal and doesn't have any terms and conditions that are adverse to your best interests. In the grand scheme of things, it's your responsibility to broker the optimal terms and conditions possible, though.

Personal guarantees and security deposits associated with commercial leases are virtually always negotiable. They're not legally required.

A personal guarantee should diminish over time and have a defined expiration date. It's essential to understand that your goal is to secure a location to operate your business successfully. You shouldn't treat your commercial lease as if you're going into business with the landlord.

Landlords often think of their buildings as investments. Their goal is to maximize the profits that they make off them. You, as the lessee, want to minimize your costs and protect your bottom line. The two concepts are in direct conflict with each other. You two should be able to come to a mutually beneficial arrangement as long as the terms and conditions of the lease are fair, though.

If you are considering leasing commercial space here in Louisville, then you need to understand that you have certain rights and obligations when negotiating a rental contract. A commercial real estate attorney can walk you through what those are and help you negotiate with your landlord to obtain the best possible lease terms for you and your Kentucky business.

No Comments

Leave a comment
Comment Information

Call 502-584-1000 to speak to a lawyer today.

  1. Charles W. Dobbins, Jr.

    Charles earned his J.D. degree from the University of Virginia in 1974

    He was graduated from Washington & Lee University in 1970 with a B.A. with Distinction

    Read More

    Mark W. Dobbins

    Mark earned his B.A. from Emory University.

    He earned his J.D. from the University of Louisville.

    Read More

    Patrick T. Schmidt

    Patrick earned his B.S. in Accounting from the University of Kentucky in 1989.

    He earned his J.D. from the University of Kentucky in 1992.

    Read More

    Terrence L. McCoy

    Terry earned a B.A. from Dartmouth College in 1964.

    He earned his J.D. from Duke University in 1967.

    Read More

    Lisa Koch Bryant

    Ms. Bryant has extensive commercial litigation and bankruptcy experience. Prior to entering private practice, Ms. Bryant served as head of litigation for the Federal Land Bank of Louisville.

    Read More
  2. Wm. Stephen Reisz

    Thomas graduated from the University of Louisville Business School with a B.A. in 1973

    Thomas earned his J.D. degree from the

    Read More

    Sandra F. Keene

    Sandra earned her Bachelor of Health Science degree, with Honors, from the University of Louisville in 1982.

    She earned her J.D. degree from the

    Read More

    Elizabeth M. Jenkins

    Colgate University, B.A., Political Science, magna cum laude, 1983

    University of Virginia, J.D., 1992

    Read More

    Edward L. Galloway

    Ed graduated from Indiana University in 1967 with a degree in history.

    After obtaining a master’s degree in political science from the University of

    Read More

    Thomas G. Karageorge

    Thomas graduated from the University of Louisville Business School with a B.A. in 1973

    Thomas earned his J.D. degree from the

    Read More
  3. Tacasha E. Thomas

    Tacasha attended Harvard University in Cambridge, Massachusetts during the summer of 2001, where she studied courses in law and psychology.

    Read More

    Ayala Golding

    Ayala received her J.D. in 1994 from the University of Louisville, Louis D. Brandeis School of Law, Louisville, Kentucky, where she was a member of the Brandeis Family Law Journal, and

    Read More

    Kacie A. Wilkinson

    Kacie A. Wilkinson recently joined Tilford, Dobbins & Schmidt, PLLC, where she practices in the areas of business law & transactions, real estate, estate planning and probate.

    Read More

    Gwendolyn Chidester

    Gwen recently joined the Firm after being employed by notable Louisville companies for over 15 years in a variety of capacities including Corporate Counsel, Director of Human Resources, and Risk Manager.

    Read More

    William A. Buckaway, Jr.

    Bill earned his B.A. from Centre College in Kentucky in 1956.

    He earned his J.D. from the University of Louisville in 1961 where he was a

    Read More

    Terrell L. Black

    Terry earned a B.S. in Social Science from Campbellsville College in 1966.

    In 1969, he attended graduate school at Eastern Kentucky University focusing on

    Read More

    John A. Wilmes

    John was admitted to the Kentucky bar in 1977 and admitted to practice before the U.S. District Court, Western District of Kentucky in 1979.

    Read More

Contact Us

401 West Main Street, Suite 1400
Louisville, KY 40202

Phone: 502-513-0600
Phone: 502-584-1000
Fax: 502-584-2318
Louisville Law Office Map