Real Estate Lawyer in Portland OR
For landlords, the role of the real estate lawyer is to prepare a fair Lease Agreement that adequately protects the landlord. The real estate attorney will also represent the landlord in disputes with tenants, including working out solutions with tenants who fail to make rent payments. This is particularly important in the current market.
For tenants, the real estate lawyer may help prepare a Letter of Intent to ensure that the landlord and tenant initially agree to some of the most important terms of the lease arrangement. Then, the real estate attorney reviews the proposed Lease Agreement before the tenant signs the agreement or pays any rent or deposits. The real estate attorney helps ensure that the agreement is fair for both parties and not unnecessarily one-sided in favor of the landlord. If the lease needs modifications to make it fair, then the real estate lawyer assists the tenant with negotiations with the landlord.
The extent and focus of the lease attorney’s review and legal analysis of the Lease Agreement may depend upon factors such as: the size and experience of the tenant; the size of the leased premises; the amount of rent; and, of course, the prospective tenant’s preferences.
Following are summaries of few important matters that may be treated in a Lease Agreement:
- Use Clauses:
- Permitted Use Clause – the clause that describes the tenants permitted use of the premises
- Exclusive Use Clause – the clause that describes the lines of business in which the landlord agrees not to allow other tenants to compete with you
- Prohibited Use Clause – the clause that describes the products or services that may not be offered from the leased location
- Relocation Clause – If this clause exists, it may give the landlord the right to relocate the tenant to another location within the landlord’s shopping center.
- Late Charges and Defaults – It is important to focus attention on the provisions that give the landlord the right to terminate the lease. These are even more important than provisions that may give the landlord the right to impose late charges when rent is late.
- Other – There are several other important matters covered in a typical lease. Landlords and tenants should be sure to express to their real estate attorneys areas they consider to be of greatest importance.
Contact Peak Law Group’s real estate attorney – commercial lease attorney in Portland, Oregon for more information!