As a landlord, your land and building is your business. In order to protect your investment, you need a comprehensive and favorable lease. By default, a lease gives the tenant exclusive use and possession of that property for the duration of the term. Unless the lease says otherwise, landlords cannot even enter the premises without their tenant’s consent! While commercial leases are long documents, most of the terms are there to protect the landlords. Written leases help you maintain some control over what happens in your buildings. Remember, there is no default set of rules that apply to a leasing relationship. You have to make up the rules you want by putting them in a written lease.
You should prepare the lease and present it to your tenant. This ensures the lease addresses your best interests. A good lease provides certainty that the tenant will pay rent for a specific length of time. It allows you to pass on most of the costs associated with operating the building. The lease should also set out how you can remove a tenant if they are not paying rent or otherwise in breach of the lease agreement.
MHR Law’s experienced leasing lawyers can help draft a commercial lease for you. Give us a call today!