Top Reasons Your Small Business Needs a Real Estate Lawyer

Most small businesses will enter into real estate transactions at some point in time. Whether you’re looking for a storefront for your retail business, a prime location for a restaurant, or office space to meet the needs of your employees, these real estate transactions can have a significant impact on the success of your business. Since the purchase and lease of commercial real estate property involves entering into a legally binding contract, it’s critical that you work with a real estate lawyer who can ensure the best interests of your business are protected at all times.

A Business Lawyer Provides You with Important Protections During Commercial Real Estate Transactions

If your business is buying or leasing commercial real estate property, working with a small business lawyer can provide several important benefits:

• Drafting and reviewing lease agreements – A small business lawyer can draft and review commercial lease agreements to ensure the terms are fair and protect the best interests of your business. In addition, working with a lawyer will ensure all necessary clauses are included in the final agreement.
  
  
• Overseeing paperwork – A small business lawyer can handle all the documentation necessary to finalize your commercial real estate transaction. This includes all titles and contracts. Your attorney will make sure you understand everything contained in these documents and facilitate a smoother real estate transaction.
  
  
• Contract negotiation – Your business attorney can handle all contract negotiations for you whenever you are purchasing or leasing commercial real estate to ensure you receive favorable terms for your business. If these contracts are drafted by the other party’s agents, your lawyer will make sure your best interests are protected.
  
  
• Save time – When you have a business attorney handle commercial real estate transactions on your behalf, it frees up your time to focus your energy on the core operations necessary for your business to grow and thrive.

A Business Lawyer Can Help You Avoid Common Mistakes Made in Real Estate Transactions

Business owners who handle commercial real estate transactions on their own often make a variety of mistakes that can have devastating consequences for their business. Working with a small business lawyer will help you avoid the following common mistakes:

• Failing to document everything in writing – It’s critical that every term of your agreement is included in a written contract. Failing to document the terms in writing can result in disputes down the road that can be costly to your business.
  
  
• Relying on emotions – It’s common for small business owners to make real estate decisions based on emotion rather than objective, analytical considerations associated with how the deal will financially impact your business. This can result in accepting a deal that may not be in the best interests of your business.
  
  
• Failing to investigate a seller’s motives – When purchasing commercial real estate for your business, it’s important to do your due diligence to understand the reasons why the property owner is selling. These motives can potentially highlight some challenges you may experience after taking ownership, and they will often impact the terms you request as part of the deal.
  
  
• Closing before receiving zoning approval – It’s critical to secure all necessary zoning approval for a commercial real estate property prior to moving forward with the transaction. Failing to do so can result in devastating financial consequences for your business.

A Small Business Lawyer Can Help You Get Out of a Lease That No Longer Meets Your Needs

The rise of remote work environments in recent years has caused many businesses to be saddled with leases for office space that no longer meets their needs. Remaining in a lease for larger office space than you need can significantly impact your profitability. If you’re looking to downsize from office space but still have time remaining on your lease, a small business lawyer can help.

Working with a lawyer provides the important legal guidance and representation your business needs when trying to get out of a lease for commercial real estate. Your lawyer will help you:

• Negotiate the terms of your lease termination – A lawyer can work with your landlord to negotiate a lease termination agreement that is satisfactory for both parties. Your lawyer will help work out early termination costs, notice periods, buyout options and other elements that must be part of the final agreement.
  
  
• Understand contract ramifications – Before attempting to get out of your commercial real estate lease, it’s important to understand the legal consequences associated with your decision. Your lawyer will review the lease with you to ensure you understand all potential penalties listed in the agreement and how they might impact your business.
  
  
• Minimize your costs – Your lawyer can evaluate the terms of your lease to identify potential strategies that will minimize the penalties associated with breaking the agreement. This can be a critical way to reduce the financial costs your business will face from early termination.
  
  
• Risk management – An experienced small business attorney can help you negotiate early termination terms that are less likely to result in significant financial losses or legal liabilities for your business.
  
  
• Legal defense – If your landlord decides to fight your attempt to break the lease in court, a small business lawyer will play a critical role in making sure your rights are protected throughout the lawsuit.

You Need to Find a New Commercial Space for Your Business

Commercial real estate space in downtown Denver is harder to find than ever. This has created a competitive market that places businesses looking to purchase or lease commercial property at a disadvantage. Working with an experienced real estate lawyer can provide the assistance you need to find a location. In addition, your attorney can review the lease or purchase contract to make sure it protects your best interests.

If you’re struggling to find commercial real estate property for your business in downtown Denver, Elizabeth Lewis can help. She has developed relationships with many local real estate brokers and can put you in touch with the right person to help you find the ideal space for your business.

The Law Office of E.C. Lewis Can Help

Real estate-related decisions can have a far-reaching impact on the success of your business, and it’s important to have the proper guidance to ensure your interests are protected during these transactions. At the Law Office of E.C. Lewis, we can help you navigate these important decisions.

Since 2007, Elizabeth Lewis has helped small and medium sized businesses in Denver and throughout Colorado with a wide range of commercial real estate transactions. She has the expertise to help you with just about any real estate matter you have, ensuring your best interests are protected throughout the process.

Contact us today to schedule a consultation. The Law Office of E.C. Lewis serves businesses in Denver and throughout Colorado.