Your Guide to Debt and BankruptcyYour Guide to Debt and Bankruptcy

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Your Guide to Debt and Bankruptcy

About 10 years ago, I secured my dream job with one of the largest corporations in the country. The job came with a substantial increase in pay and I soon looked for a large house for my family. After living the life I dreamed of, I was let go from my current position. I had a large amount of savings, but the economy took a turn for the worse and savings were quickly drained. I soon became stressed about finances. I could not pay the mortgage and bill collectors started to call my house. I refused to be defeated though, so I met with a bankruptcy attorney instead. I live a much simpler life now with my family, and I want you to know that financial stress does not have to affect you for years. Read my blog to learn about bankruptcy, debt laws, and how to hire an attorney.

Need A Commercial Rental Space? Get Legal Help First

1 September 2015
 Categories: Law, Blog

If you have never rented a commercial property and you need to find a property for your new business, let a real estate attorney help you first. Before you agree to lease anything, make sure you have a real estate attorney look over the lease and the terms.

You want to know what you're accountable for as the person who signs the lease, and what unexpected issues may arise. Talk with your lawyer about the following things.

Understanding the Expenses

The type of lease you sign will determine if you have to just pay the monthly rental cost, or if you also have to pay things like taxes, maintenance work and more. Your lawyer will look at the lease and break down the details for you know, so you can accurately come up with an estimated monthly cost to run your business out of that location. The lawyer will guide you, and tell you what you should request to change.

Negotiating the Terms

It can be difficult to get the owner of the property or their property management company to take you seriously, or to negotiate with you. Use the real estate lawyer to negotiate the terms of the lease so you can be taken seriously, and to get what you want. If you don't like the length of the lease, or if the rent is too high to comparable properties in the area, the lawyer can work with them to get the lease shortened or the price reduced.

Getting the Right Coverage

Once you lease or buy a commercial property you need to have the right insurance to make sure you are protected from all accidents and mishaps that can occur. You want to have coverage if someone slips and falls on the sidewalk, if there is a tree branch that falls down on the building, and if anyone tries to sue you for anything.

If you are worried about signing a lease for your new business and you don't know what you are signing, take the paperwork to a real estate attorney and get some advice. You need to make sure you know what your responsibilities are before you start running a business out of the property, instead of just singing the document they put in front of you, and hoping that you have everything covered. A real estate lawyer can give you great advice and help you find a business location that works for you.

To learn more, contact a law firm like Brandt Law Group.