Whether you have an existing restaurant or are in the process of opening a new establishment, lease negotiations can be brutal. With so many legalities and other factors involved, you definitely need the legal services of Dan Claiborne. With more than 40 years of experience in this area of law, Dan understands how to negotiate and execute a commercial restaurant lease.
For a restaurant with an established reputation and following, there is little risk to a longer lease. However, for a new business or one still growing, Dan may recommend that you avoid locking into a long-term lease so that if the restaurant falls on hard times, things would be easier. There are many tricks to good negotiating. For this reason, you want to leave commercial restaurant lease negotiations to Dan.
Executing the Contract
To ensure that you get the best commercial restaurant lease possible, Dan will use his legal expertise. Because Dan knows the right questions to ask, the specific terms to use, and the appropriate amount of pressure to apply, you will end up with a lease that will provide you the best possible protection for you and your business.
- Additional Rent – Many commercial properties require the tenant to pay either a portion or all of the property expenses. Known as “additional rent”, this includes repairs and maintenance to parking lots and common areas, property management services, common area utilities, and security. Since these costs add up quickly, Dan will strive to keep any additional rent expenses to a minimum.
- Exclusive Use – In an effort to protect your business, Dan will make sure that the commercial restaurant lease has an “exclusive use” clause. This clause will prevent your landlord from renting space within a specific proximity to another restaurant that serves the same type of food. Having this clause in the lease will allow you to grow the business with little competition.
- Contingency – Another critical aspect of a restaurant lease is the contingency. If you have trouble getting the necessary permits and as a result cannot open the restaurant as scheduled, the contingency allows you to cancel the lease.
- Option to Extend – Your commercial restaurant lease should contain an option to extend. This means that instead of fighting to extend the lease past the original end date, you are granted first rights for an extension.