Is it the attorney’s role to provide business advice to tenants and landlords when negotiating leases?
Attorneys provide legal advice, not business advice. They act as advisers in commercial lease negotiations and advise the clients on their legal positions. Ethically, attorneys are prohibited from giving their clients business advice. There are times they might suggest to a client that, legally, the terms or provisions of a lease are not a very wise choice for them or their business. Attorneys point out the legal pitfalls tenants or landlords might face deep into a lease if they accept a lease agreement as written. The clients, however, must make the final decisions as to whether those problems are worth the risk. How do clients select an effective attorney who specializes in leasing? They can ask for referrals from real estate brokers, lenders or people they know in their industries, and then concentrate on retaining attorneys with significant experience in negotiating commercial leases. It is a bonus to work with attorneys who are board certified in commercial real estate. The best t
