If a commercial landlord is in breach of a lease agreement and the tenant plans to file a lawsuit, there are a few things to consider before beginning. By reading the contract carefully, most disputes can be clarified, but some cases are more complex than others. Below are some factors to think of before using Chicago commercial landlord services.
Reading the Contract
Landlords and tenants should be aware of mediation and arbitration clauses in lease agreements. If such a clause is available, one party cannot sue the other. Instead, the two parties must make a good faith attempt to settle the dispute outside the court system.
- It’s a wise decision to go back and re-read the fine print in the lease agreement, just to determine which other provisions exist.
If an arbitration clause is included in the contract, a certain company is typically listed as the preferred arbitrator.
If an individual’s name is listed as the arbitrator, the tenant or landlord may want to speak to a real estate attorney to determine other legal options.
Deciding Whether to File a Lawsuit
If a commercial tenant wants to sue a landlord, they must first decide whether it is profitable to do so. A lawsuit is never cheap, even under the best of circumstances, and the most effective way to resolve a dispute is through cost-efficient negotiation. Unless the tenant’s case is extremely solid, the suit may be fruitless and it may cause significant financial losses. Therefore, arbitration and mediation are the best solutions to landlord/tenant disputes.
Finding Legal Help
Before signing commercial lease documents, potential tenants should look for warning signs from the landlord. If the tenant has the slightest bit of doubt about the landlord’s ethics, he or she should avoid signing the lease. However, if the lease has been signed and there’s something untoward about the landlord’s behavior, the tenant should consider using Chicago commercial landlord services from Starr Bejgiert Zink & Rowells. A real estate lawyer can provide tenants with advice on state laws governing commercial leases, and they can protect a tenant’s rights if the case goes to court.