Having a lease reviewed by an experienced attorney in the Boston metro area can save you a lot of headaches down the road. It can also benefit you financially. Here's an overview of lease review services we offer at Sandonato Law.
Sandonato Lease Review Services in Boston Metro Area
There's no one generic lease agreement that can be applied to the same or different rental spaces. At Sandonato Law, we review leases for the following types of property in and around Boston, Massachusetts:
- retail facilities,
- office space,
- warehouse,
- industrial,
- grounds,
- mixed-use property,
- single home, or
- multi-family home.
Each tenant is unique and requires a lease that addresses specific needs and concerns. At Sandonato Law, part of our residential and commercial real estate practice and landlord/tenant practice is offering lease review services. This service includes things like:
- drafting residential and commercial leases;
- negotiating leases;
- reviewing the lease agreements for a variety of property types as mentioned above; and, among other services customized to your specific legal needs,
- reviewing subleases.
There are different types of leases, too, and we review the whole gamut, including residential lease (or rental agreement), percentage lease, net lease, double net lease, triple net lease, and fully serviced lease.
Key Issues to Consider in Lease Review
When you don't have someone with knowledge of the law and experience in the industry reviewing your leases, you could inadvertently harm yourself, your interests, and your assets. It's easy to want to get a new tenant moved in and so you allow the tenant to dictate the terms and conditions. Or, you may simply be using an outdated lease taken from an online source. Whatever the situation is, without a lease review by an experienced attorney, you may be overlooking or leaving something important out of the lease.
Whether it's a residential or commercial lease, there are some important issues to consider when drafting, negotiating, and finalizing the lease so that you are not met with problems later. Below are some of these issues to keep in mind.
- Term of the lease – for how long with the tenant lease the space?
- Security deposit – how much should you request of the tenant (so long as within the limitations of the law per MGL c. 186, § 15B and 940 CMR 3.17(4))
- Premises – in commercial spaces especially, is the property or space right for the tenant, e.g., is the space suitable for the intended use?
- Delivery – is it clear exactly who (the tenant versus the landlord) will be making repairs or improvements prior to move-in and when those will be conducted and completed?
- Rent – is the rent consistent with the market value and how is the rent structured (e.g., free rent for the first month or gradual increase in rent at what fixed or percentage price)?
- Default – what happens when a tenant fails to pay rent, i.e., is there a cure period or another specific process before commencing a residential eviction or a commercial eviction?
- Operating Expenses – who will pay the operating expenses (e.g., common area maintenance fees) or association fees?
- Maintenance and repairs – does the lease clearly identify who will be responsible for what maintenance and which repairs?
If these and other issues are addressed clearly in the lease for each specific client, then you can minimize problems and nurture a strong, trusted relationship with the tenant.
Getting a Competitive Edge in Boston's Residential & Commercial Leasing Markets
At Sandonato Law, our practices inform each other: business law, real estate, and landlord law. The insight Marco Sandonato gains from each is applied to provide a comprehensive approach to your specific legal needs. Our services are your competitive edge in a market that gets more competitive by the year.
To make sure your lease is worth the space you rent out to others, contact Sandonato Law at 617-481-2742 today.