Residential/Commercial Lease Lawyers
Whether it is a residential or commercial lease, the owner of the property, also known as the “lessor” or “landlord,” allows a tenant or “lessee” to use the property for a payment of rent. But here is where the similarity ends.
A residential lease is usually for a term of one or two years, or could even be for a shorter term of six months, and the tenants may bear additional costs of utilities and other items. The tenants in a residential lease are restricted as to the use of the premises.
The term of a commercial lease is usually much longer and can last from one year to many years. Provisions of the lease can include:
- The amount and responsibilities of owner and tenant regarding any security deposit;
- How the cost of utilities are shared by the multiple tenants;
- What construction or improvements will be made by the owner to suit the tenant’s business needs;
- Who is responsible for maintenance of common areas like parking lots and landscaping;
- Who is responsible for paying property tax;
- Restrictions on signage;
- How the premises may be used by the tenant; and
- Whether the tenant is permitted to sublet the property.
There may be many more provisions depending on the size and type of business.
In all cases, the provisions of the lease must comply with federal and state laws and no provision can exceed or supersede that which is required by law. Landlords and tenants are obliged to comply with the Americans With Disabilities Act and the Federal Laws Against Discrimination.
A real estate attorney familiar with both residential and commercial leases will guide an individual or business owner with regard to the minute details involved in crafting or interpreting the provisions of a residential or commercial lease. And if you are unsure if the property is zoned for a particular type of business, the attorneys at Einhorn Harris have extensive experience in Land Use and Zoning matters to provide the information you need before you sign and make that all-important commitment to a long-term commercial lease.
Given the complexities of residential and commercial leases in New Jersey, we advise you to contact one of our experienced real estate attorneys at 973-627-7300 at Einhorn Harris today. We handle commercial and residential real estate issues throughout New Jersey.