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Warning: paid a lawyer $600 to review a lease and I still can't decide if it was worth it
Signed a 3 year commercial lease for my shop in Reno last fall and dropped $600 on a local attorney to read it before I signed. He caught a personal guarantee clause that would've stuck me with the full rent if the business went under, but my buddy says he just Googles this stuff and has never paid a dime. So which is it, are you paying for the review or rolling the dice on the standard form?
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garcia.wren16d ago
That personal guarantee clause is exactly the kind of thing the $600 is for. I went through this with my first shop lease and the lawyer found a clause that let the landlord keep my security deposit for "normal wear" plus repaint the whole unit at my cost no matter what. Would I have caught that on my own? Maybe, if I read it ten times and knew what to look for. Your buddy googling stuff works until the one weird clause that's not in the standard form pops up, and then he's on the hook for three years of rent. Six hundred bucks sounds like a lot until you do the math on what that clause would have cost you if things went south.
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