Real Estate Law
Real Estate Guidance
Whether you are buying the location that your business is going to operate out of or leasing it, having a real estate attorney who focuses on business law is important. Buying or leasing commercial real estate is much different than buying a home or leasing an apartment. There are fewer protections for business owners than there are for residential real estate users. For example, many of my clients who haven’t leased commercial real estate don’t realize that it isn’t automatic that your landlord fixes any issues in a leased commercial space – in fact the default is usually the tenant is responsible for all repairs.
As an experienced business attorney in Colorado who has worked with clients on lease issues, Elizabeth can provide wide-ranging insights on the ideal location for your new business. She also has expertise in the intricacies of operating in a virtual market and can provide legal help for your online business.
Real Estate Advice for New BusinessesMany factors influence the choice of a business location. For example, you will want to consider:
- Demographics. Who is your target customer? And, if you do business in person, are there enough of these people in the area to support you?
- Accessibility. Is the building you have chosen accessible to your customers and does it have enough parking to accommodate the amount of traffic you anticipate?
- Business ecosystem. Many types of companies are more successful if certain other types of establishments are nearby. Is the environment you are considering right for business?
- Regulations and ordinances. Are there restrictions on the types of businesses that can operate in the location you are evaluating? If you can open your business there, are there regulations you need to adhere to?
- Does your business fit the area? Your company has the best chance of thriving if you position it in an area well suited for it. For example, an upscale offering may seem out of place and perform poorly in an economically depressed area.
- Is the lease or purchase price justified for the amount of business you expect? While the location may be perfect, if your lease is too high to for your expected income, it may not be perfect in reality.
Buying Real Estate
While some small businesses are lucky enough to be able to purchase their locations to begin with, many small businesses wait until they have been in business several years. Whether you are brand new or an experienced business owner, buying a location for your business usually involves a whole new set of legal experiences for business owners. Questions about what can you expect out of the seller, what types of loans are available for commercial owners, and how do you approach your landlord about buying space you are currently leasing are all questions that come up. While there are state approved forms for the buying and selling of commercial real estate, it is helpful to have an experienced attorney involved to review the agreement and add any additional language that is necessary to protect your new investment. Elizabeth can help you make sure you are protected today and for years to come.
Protecting Your Assets
The building that your business occupies is not the only real estate you need to be concerned about. Without the proper protection, your home and other personal property can be in jeopardy if your business runs into legal or financial trouble.
Fortunately, there are asset protection strategies you can use to keep your business and personal assets separate. They include:
- Creating well-defined business entities
- Documenting formal partnerships rather than relying on informal agreements
- Making a clear distinction between business and personal finances
The money you are owed for work performed or products delivered is also an asset. In some cases, recovering that asset may require the placing of what is called a mechanic’s lien on a non-paying client’s property to ensure you ultimately get paid. Elizabeth can provide the legal help you need to ensure your assets are properly protected.
Legal Review of Leases
Whether you work out of a home office or a huge warehouse, your real estate choices when you lease space affect your business.This is true on many levels. For example, the amount you pay on a lease has a direct impact on your bottom line. And, if your business is one that customers visit in person, where you choose to set up shop is crucial. In addition, there are advantages and disadvantages of both leasing and owning property. Elizabeth Lewis, a business attorney in Colorado, provides sound advice on a wide range of real estate-related issues, including the legal review of leases and much more.
Property leases run the gamut from simple, single-page agreements to complex “novels” filled with legal speak. One thing they all have in common is that they may include language that you, as a business owner and not an attorney, are unfamiliar with.
From warehouse leases to retail leases, Elizabeth has experience with them all. Her expert assessment of each provision of a lease can help ensure that you do not sign an agreement that is unfair to you or unfavorable to your business. If she finds terms that she feels put you at a disadvantage, she can advise you on how to mark up the agreement and request that it be modified.
It is also important to be sure that leasing is the right option for your company. There are definitely scenarios where buying property makes more sense than renting. Elizabeth can help you understand what is in your best interest, both today and down the road. And, if purchasing makes more sense, she can provide guidance on that process as well.
Make Real Estate-Related Legal Decisions with Confidence
Real estate-related decisions can affect the success of your business not just for the length of the lease, but for many years to come. Getting legal help from a skilled and experienced business attorney in Colorado allows you to move forward with confidence. Knowing that you have an expert on your side can make all the difference.
Contact the Law Office of E.C. Lewis, P.C. today to learn more about the services Elizabeth provides.
Multiple Ways to Serve You
The Law Office of E.C. Lewis, P.C. understands that not all business owners can take the time out of their busy schedules to come to an office, appointments are available by phone, online, and through video-conferencing for those individuals who are on the go. Contact the Law Office of E.C. Lewis, P.C. today to schedule an appointment!
We Are Centrally Located
Located in Cherry Creek, the Law Office of E.C. Lewis, P.C. offers clients the convenience of being in the center of the Denver Metro Area, without having to deal with the traffic of downtown Denver.
Do you use contracts with evergreen clauses? (Evergreen clauses being those where a contract automatically renews if neither party cancels it within a certain amount of time before the end of the current term.) If so, changes came into play at the...
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Law Office of E.C. Lewis, P.C.
Your Denver Business Attorney
501 S. Cherry Street, Suite 1100
Denver, CO 80246