Like a residential real estate lease, a commercial real estate lease sets out the terms and conditions of use that a property owner imposes on the party to whom she leases space. In Minneapolis, laws related to zoning control some aspects of commercial lease agreements, but with regard to conditions like pricing and resolving disputes, variations can exist.
For example, a party looking for commercial space may believe that he has found the perfect property for his new business, only to discover that the price for the space is well above rent prices for comparable locations. That party may not know if he has rights to negotiate on the price or how he could go about initiating such a negotiation. In the end, the party may walk away from a lease in favor of one that more closely matches his expectations.
Additionally, property owners may propose different remedies if their tenants breach their lease agreements. A property owner may move to evict a tenant, send the tenant’s past due rent to a collection agency, sue the tenant in court for damages, or any of a host of other remedies. Tenants may find in their lease agreements that their rights are not as extensive as those of the property owners; commercial property renters have rights to negotiate their lease agreements to bring some parity to the parties’ respective rights.
Whether a tenant desires to have a commercial real estate lease agreement reviewed prior to signing it or has questions about his rights under the document, the attorneys of Burns & Hansen can help. Agreement interpretation is not always simple, but the real property attorneys of the firm can help individuals dealing with commercial lease problems get to the bottom of their agreement-related questions.