One common myth about leasing office space is that you should only pay attention to the rent and let your lawyer handle the fine print. However, there are a lot of things that your lawyer might not know about real estate rental, which could cause some issues for you later in your lease. It is good for you to be aware of these potential pitfalls so you can avoid them when signing a lease—even with the help of a lawyer:
1. Lawyers cannot fully protect tenants because they are not as experienced with business issues that can cause high lease costs, nor are they trained to analyze these issues.
2. Lawyers are not well versed in building operating systems’ economics.
3. Lawyers cannot compare how relatively desirable or undesirable a draft lease from a landlord is because they might not know enough about the current real estate market.
4. Lawyers are not familiar with how different ways of charging tenants for electricity will impact the cost of the lease.
5. Lawyers have no way of knowing how trustworthy particular landlords are because they do not audit landlord billings.
While a lawyer can be helpful in going over some of the details of your business’s lease, be aware that they are not all-knowing; there are many factors specific to commercial real estate leasing that it is not their job to fully understand.