Because the rental rate is very important, so many lessors pay too much importance on the rental rate when negotiating an office lease. However, the successful operation of a law firm, both present and future, also requires you to devote equal attention to other key terms of the lease agreement. According to this, law firms should give special attention when negotiating a lease.
In 1980’s, lenders began tightening their financial security requirement for tenants which allow landlord recourse against the personal assets of individual partners of law firms in case the law firm owed further obligations under the lease. When this comes through several years until nowadays, partners involving the field usually aware of the issues related to personal liability so they can resolve them during the negotiating process.
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Make Sure Your Liability in a Law Office Lease is Limited
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