When an owner of a Michigan commercial property is in a transaction to lease the property to a business, there are many things that can be very important for the property owner. One is having a strong commercial lease agreement that properly protects their rights and interests and is enforceable. A strong commercial lease agreement can go a long way in increasing predictability in a commercial lease arrangement and making clear what the responsibilities and rights of the parties to the lease are.
Drafting a strong commercial lease agreement can be a very complex process. Our Michigan law firm understands the ins and outs of careful drafting of commercial lease agreements and can provide commercial lease agreement drafting services to commercial property owners who desire to lease out their property. We strive to help our clients who are in commercial lease transactions get the right commercial lease agreement in place for their situation.
One of the reasons that drafting a commercial lease agreement can be so complicated is that such agreements generally contain a great deal of important terms. A few examples of terms that can be major ones in lease agreements are rental cost terms, lease length terms, exclusivity clauses, terms regarding subletting, use clauses and terms regarding allowable improvements.
What a commercial lease agreement ends up containing in regards to these sorts of terms can have major implications for both the owner of the property that will be leased and the business that will be renting the property. Consequently, getting all the important terms in a commercial lease agreement set at the right levels can be vital.