Commercial Real Estate FAQ
Bergen County Commercial Real Estate Attorneys
If you are like any other business owner in America, you've likely had commercial real estate questions that went unanswered simply because you were unsure of where to turn. Whether your uncertainties stemmed from contract disputes, property management problems, or construction litigation, it's only natural that your business might benefit from legal counsel.
At M. Ross & Associates, LLC, our team consistently offers unparalleled support to our clients. Our firm was founded by a talented commercial real estate attorney who serves clients in and throughout Bergen County. Schedule your consultation today for comprehensive answers to whatever questions you might have.
What is due diligence and how does it pertain to me?
Unlike residential real estate purchases, commercial buyers cannot use consumer protection laws as a security net in the event that a deal turns sour. Real estate laws imply that commercial buyers will behave with "due diligence" before committing to a transaction to ensure that all aspects of the deal are satisfactory.
How can a restrictive covenant protect my business?
All businesses have information that they hope to keep private from the public and a restrictive covenant can provide the security that you need to maintain this level of privacy. Restrictive covenants protect price lists, software, business data, customer and client lists, and trade secrets.
Am I required to cover the cost of tenant improvements?
Determining who is responsible for tenant improvements is usually covered in your lease agreement. Most property owners decide how much they're willing to pay per square foot for these improvements, but the current condition of the property can determine whether you are responsible or the tenant.
Can I break my letter of intent?
In its essence, a letter of intent is non-binding. So technically, yes, you are able to break something that was said in your letter of intent. However, you should take extra precautions to be sure that you haven't used language in your letter of intent that mimics a binding contract.
How do I know how to structure my commercial lease?
Your lease should be based on the goals for your business. Single, double, or triple net leases are all available in the commercial real estate world and what works for one business may not work for you. We advise a lease that will keep your business secure and protect you from potential liabilities.
How can your firm help my business?
We put the needs of our clients first. This means that we don't force you into a solution that you don't feel comfortable with and always take into account the goals you have for your business. Our desire is that we would help your business grow and become more successful in the long term.
Interested in learning more? Contact our Bergen County real estate attorneys!