Commercial real estate transactions can be very challenging for those who are trying to sell or looking to buy property. However, there are other potential problem areas to watch out for when it comes to commercial real estate, especially for those who rent property. Many people have found themselves in a difficult position as a result of commercial lease disputes, which must be handled carefully. Fortunately, there are a number of steps that can be taken to reduce the probability of such a dispute arising in the first place. In New York, these disputes take many forms and prevention is paramount.
First of all, one of the best ways to avoid a commercial lease dispute is to make sure that the lease is detailed and does not lead to any confusion or misunderstandings. The terms of the contract should be clear and it is pivotal for key aspects of the agreement, such as the duration of the lease and the monthly payment amount, to be laid out very clearly. Other aspects of the contract, such as who will be responsible for utilities, need to be defined clearly as well. It is also important to keep in mind that many properties involve certain unique details that should be covered in the agreement also.
Sometimes, disagreements arise regardless of the precautionary steps that are taken. However, you may be able to prevent the case from going to court by discussing this issue with the tenant. As with all real estate matters, it is pivotal to ensure your interests are protected.