Commercial real estate may include properties zoned for retail sales, manufacturing or mixed-use. Some business leaders acquire real property by purchasing it. Others choose to lease commercial space to limit their costs and enhance organizational flexibility.
Regardless of whether a company owns or rents real property, there could potentially be a variety of disputes that arise. For example, a tenant renting commercial space may question a sudden increase in common area maintenance (CAM) fees. They may also feel frustrated about a landlord’s refusal to perform certain maintenance in a timely manner.
Businesses that purchase real property may find that the seller did not represent the property honestly or that neighboring business operations affect their company. The business next door might use the company’s parking lot without permission, leaving inadequate space for workers or customers. How should business leaders navigate a dispute related to commercial property?
Review leases or disclosures
Paperwork related to a real estate transaction, whether it is a purchase or a lease, can play an important role in disputes about property. For example, the legal description can make it clear where the boundary falls in cases where a neighbor is not respectful of the commercial facilities.
Lease terms can help clarify who has certain maintenance obligations and when the landlord can make adjustments to any fees they charge or the rental rate for the property. Going over paperwork related to ownership or lease arrangements can help clarify what step to take next.
Consult with a professional
Many business leaders are excellent communicators and problem solvers. They may assume that they can navigate a real estate dispute with a previous owner, frustrating neighbor or problem landlord on their own.
Unfortunately, legal matters related to real estate often require careful consideration and a very specific approach. An attorney can inform a business leader of their options for resolving the dispute. They can also send an official letter to the other party involved, which may facilitate a faster resolution to the matter. Attorneys can even provide insight into the documentation required to take legal action.
Business owners dealing with property-related disputes can protect themselves by documenting everything from issues with the property to communication with the other party. They can then review those records and plan a path forward with someone capable of navigating the legal system.
Recognizing how difficult it may be to resolve issues related to commercial real estate can help business leaders get the support they need to properly address the issues they face.
