The Top 5 Things to Consider About Your Lease Agreement in Dallas
When signing a lease agreement for a business in Dallas, it’s important to consider the legal implications of the contract3 min read
When signing a lease agreement for a business in Dallas, it’s important to consider the legal implications of the contract. A lease agreement brings with it many legal obligations for both tenant and landlord. With the help of experienced business lawyers, you can protect your business interests and avoid potential disputes down the line.
The following are the top five things you should consider when signing a lease agreement in Dallas:
1. Terms of the Agreement
Before entering into a lease agreement, both parties should fully understand the terms and conditions. To ensure compliance, it’s important to hire a lawyer with experience in business and real estate law to review the lease agreement.
Make sure the lease agreement allows you to use the space for the purpose you have in mind, and that it has adequate restrictions for anyone else who may want to use the space. Also, be sure to include details on the term of the lease, penalties for early termination, and details about the security deposit.
2. Local Zoning Regulations
Even if your business location meets the terms of the lease agreement, it’s also important to consider the local zoning regulations. Zoning laws regulate how businesses may use a particular piece of property, and failure to comply could result in hefty fines or other sanctions.
Be sure to hire an experienced real estate lawyer to review your lease agreement and determine if the use of the space is in compliance with local zoning laws. A skilled lawyer will also be able to advise you on any laws or restrictions that may apply to your particular business.
3. Building Use Restrictions and Restrictions on Use of Common Areas
In addition to local zoning laws, the lease agreement may include restrictions on how the premises, as well as the common areas, can be used. For example, the landlord may prohibit business activities that are more hazardous or disruptive than those specified in the lease agreement.
It’s important to fully understand the use restrictions and the consequences for violating them. An experienced lawyer can advise you on any restrictions that may affect your business and help you negotiate changes if necessary.
4. Payment Terms and Late Fees
It’s important to understand the payment terms of the lease agreement and what constitutes a late fee in the event of failure to comply. Depending on the terms of the agreement, the landlord may be legally entitled to a late fee if the payment is not made on time.
In addition, the lease agreement should also specify which party is responsible for paying the property taxes, insurance, and other expenses. Make sure that all applicable costs and taxes are taken into account before signing the lease agreement.
5. Subletting or Assigning the Lease
In some cases, you may want to sublet or assign the lease to another party, either during or after the term of the lease. Before signing a lease agreement, make sure you understand the terms of subletting or assigning the lease and what notification is required.
It’s also important to make sure the assignee or sublessee is financially responsible for meeting the obligations of the lease agreement. An experienced lawyer can help you review the lease and make sure that all parties are protected in the event of a subletting or assignment.
When signing a lease agreement for a business in Dallas, it’s important to understand the legal implications of the contract. There are many aspects that need to be reviewed before signing such as the terms of the agreement, local zoning laws, building use restrictions, payment terms, and subletting and assignment issues.
With the help of an experienced business lawyer, you can protect yourself and your business interests by minimising the risks and mitigating any potential disputes. A lawyer can also help you negotiate changes to the lease if necessary.