It is far easier to get into trouble than to get out. Avoidance then becomes the important element. Most of us do not have the detailed awareness to help us avoid some of the common problems.
For example, Toronto are law firm Pallett Valo recently published a satirical piece in respect to commercial leases. It will make you think.
The article includes 42 reasons to just sign. Forty-two!
7) you want to have to obtain insurance with provisions that your insurer will refuse to provide;
13) you want to be able to pay for the cost of cleaning up environmental contamination of the property even though you did not cause the contamination
and my favorite, #37. “You want the landlord to have the option of having you pre-pay all of the rent for the remainder of the term of your lease because you are late in paying rent one month”
With lawyers you have a choice. Pay the smallish, immediate and certain fee or pay the future, uncertain, but potentially very large price to be surprised. It applies to far more than commercial leases.
Lawyers think differently than you do. You cannot count on the common sense meaning of a contract, so do not go there.
Don Shaughnessy is a retired partner in an international public accounting firm and is presently with The Protectors Group, a large personal insurance, employee benefits and investment agency in Peterborough Ontario. Contact: email@example.com