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Three lease issues of concern

| Jun 23, 2020 | Leases

One of the benefits of buying a franchise is that there is often business guidance and support for launching the business. Nonetheless, there are some issues that the owner or franchisee should be mindful of before he or she signs a contract. This caution allows them to avoid decisions that they later come to regret.

It is wise for owners to use an attorney when planning to sign a lease agreement. While the space the owner picked is the right size and seems to be in the right location, a lawyer can recognize potential legal issues overlooked by the franchisee that could escalate into a significant problem.

Use Restrictions

Some complications to avoid include:

  • Stated Use: Make sure the stated use of the premises is broad enough to encompass all of your intended current and future uses.
  • Limits on use: Check that there are not any use restrictions by the landlord, other tenant leases in the shopping center or a governmental body.
  • Exclusive Use: try to get the landlord to agree that your use of the space will be the only one in the center.

Legal guidance can also provide solutions

Life has a way of getting complicated. Seldom is this truer than when a business owner finds him or her self in conflict with a use that is too narrow or restrictive. Ideally, an attorney will spot issues before the contract is signed, but it may be necessary to pursue a solution after the fact because of unforeseen circumstances. In either case, smart legal advice can minimize stress and find efficient and effective solutions to these issues.