If you are thinking about renting space, here are five things you want to discuss with your attorney:
- If you are thinking about renting space, discuss when your attorney should get involved. If you do not have an attorney and you are considering space, now is time to get one. Your attorney will let you know when it is appropriate for him or her to get involved. For instance, I usually want to know that my clients are looking for space but get involved more towards the end once they have found a space they are interested in. Typically, especially if they are working with a tenant representative, my clients find the space, and do preliminary talks with landlords. I get involved when the negotiating the lease is taking place and review the lease once it is written. Find out when your attorney wants to get involved – and are you comfortable with the level of involvement.
- If you are thinking about renting space, ask if your attorney knows any good tenant representatives. This is one of the reasons that I prefer my clients speak to me when they are first looking for space. Many times, they do not know the market prices, where to look, or even how to find what is available. Having worked with tenant representatives, I can make sure they are hooked up with someone that can find them the perfect space for a good price.
- If you have found the perfect space, have your lease reviewed. Even if you think you have found the perfect space, there may be clauses in your lease that make that perfect space a lemon. Does the landlord want you to replace the furnace if it goes out and it is 100 years old? Does the lease call for you making $100,000.00 in tenant improvements but you only have the rights to the space for 3 years? An attorney can help see if there are areas that need to be changed.
- If you are moving into a bigger space because you are hiring employees, ask if you need employment documents. Many times the reason someone is looking for a new place is because the business is expanding. If this is the case for you, you may need agreements for anyone that you are looking to hire. Ask your attorney if this applies to you.
- If you think you are paying too much for your space, ask your attorney if she thinks you can negotiate a lower amount. If you are in a lease currently and think you are paying too much, speak with you attorney to see if there is a way to negotiate the price of your lease. There *may* be ways to lower your monthly rent (although there may not).
As always, if you have any questions about renting space, please contact me, your Denver business attorney at 720-258-6647.