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4 Common Issues with Commercial Leases in Illinois

 Posted on May 08, 2024 in Commercial Lease Agreements

IL real estate lawyerWhen a business needs to rent space to operate in, it needs to sign a lease for a commercial property rather than a residential property where people can live. Like many types of contracts, a commercial lease agreement can be complicated with various terms and conditions that the tenant needs to be aware of. There may be restrictions on how the property can be used, and if the tenant is unaware and their regular business activity is in violation of the agreement, they could end up kicked out of their property. This article will explore some common pitfalls of commercial leases to help business owners avoid unnecessary mistakes. If you are considering signing a commercial lease, consider consulting with an experienced Naperville, IL commercial lease attorney to ensure you are entering into a feasible agreement.

Exclusive Use

If you lease a commercial property, you might assume that means no one else can have access to it or use it during your lease period. That is not always the case. Make sure your landlord has signed onto an exclusive use clause if you do not want them or anyone else entering and using the property you have leased while you are leasing it.

Common Area Maintenance (CAM)

As a tenant, you might be required to contribute toward the costs of operating or maintaining a property’s common areas, which can include things like elevators, bathrooms, and lobbies. This can add a significant sum to the rental fees you have agreed to pay. You need to be aware of this and see if you can include a cap on expenses that you would be required to pay.

Maintenance and Repairs

Your commercial lease agreement should include who will be responsible for any repairs or maintenance required on the property. Make sure you and the landlord have a clear written agreement about these things that can be used to solve disputes if anything comes up in the future.

ADA Compliance

The Americans With Disabilities Act (ADA) calls for modifications to buildings to ensure accessibility. You need to understand whether you or the landlord will be responsible for any modifications that need to be made.

Contact a DuPage County, IL Commercial Lease Lawyer

If you need to lease a property for your business, let a knowledgeable Oak Brook, IL commercial lease attorney review the agreement, inform you of anything that will require your attention in the future, and suggest modifications to protect your best interests. Call Lindell & Tessitore, P.C. at 630-778-3818.

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