In today's Freedom Friday blog and email newsletter, I want to discuss a topic related to last week's blog and email newsletter.  Last week, I answered the question, “What is the best business structure for a rental property?”  Because many of my clients here at Liberty Legal Solutions, LLC, have been real estate-related, and I get a lot of questions in that area, I want to answer one more related question, and that's “How can I handle a commercial property dispute?”  Some of this would also apply to a residential property dispute, especially one of the landlord-tenant variety.  In today's Freedom Friday blog and email newsletter, I'm answering the questions, “How should I handle commercial property disputes.”

If your small business owns commercial property, or your small business rents from a commercial owner, you may encounter issues which are commercial property disputes.  The most common issues that result in these disputes include issues regarding the lease terms, boundary claims, and disputes over how the property was left after the tenant moved out.

There are many consequences to your small business regarding commercial property disputes.  Some of these consequences include financial loss because of legal fees, damages awarded, settlement costs, and disruption to business operations; damage to reputation because of a public dispute affecting your small business's credibility, customer trust, and relationships with suppliers, vendors, and/or clients; disruption of your business leading to productivity losses, delays in projects, and/or interruptions of your supply chain, sales, and/or services; breach of contract triggering additional legal liabilities and/or termination of business relationships; loss of opportunities, investments, and/or strategic initiatives; legal consequences, e.g., judgments, injunctions, and/or enforcement actions; strained relationships leading to distrust, animosity, or future conflicts which hinder collaboration and cooperation; poor market perception affecting investor confidence, stock prices, and/or market share; and high stress and loss of morale, affecting job satisfaction and employee retention within the business.

So, what can be done to protect your business from costly commercial property disputes?  First of all, landlords and tenants need to read and thoroughly understand their lease agreements.  Landlords need to ensure that the lease is clear and covers any possible scenario which may occur.  Landlords should use an attorney to help draft and/or review their lease agreements.  If you're a business owner or a tenant, you also need to clear up any potential disagreements ahead of time so that they don't become a big problem or issue later on.  Both parties need to be open and honest in negotiations.  Lastly, it's always important to keep a written record of any incidents or correspondence with your landlord or tenant so that there is a solid paper trail in case of a dispute.

Thinking about starting a small business?  Or maybe your small business is having issues with contracts, leases, business partners, collection issues, or experiencing other barriers to growth?  Please contact me at [email protected] to schedule a FREE strategy session.

For more information about Liberty Legal Solutions, LLC, please visit our website at http://www.libertylegalok.com/