Commercial properties are good investments. But commercial real estate transactions can be difficult to deal with. It can be stressful to work with multiple documents and contracts as well as ensure every detail has been carefully checked. You have to be well informed and have a good understanding of the regulations and processes required in every transaction.
Whether you are buying, selling, or leasing commercial property, it is crucial to know the basics. What are your rights as seller, buyer, or tenant? How can you protect your rights in the midst of a real estate dispute and contract violations? Who can you turn to when issues arise?
When things go south, learn how a trusted commercial property attorney in Houston, Texas can save you from all the commercial real estate headaches. Dial our number now and let’s discuss your situation today!
Any commercial property-related transactions call for a competent attorney to ensure you are making the rights deals. Business is business. One wrong move and you will incur a significant financial loss. If you failed to review to recheck any particular area, it can potentially impact your business. Any misunderstandings in contracts can lead to real estate disputes. And this put you and your commercial property business at high risk for real estate litigation.
GK Law is a commercial property law firm knowledgeable and well-versed in business and commercial real estate law. If you are planning to venture or you facing any challenges in relation to commercial real estate, our trusted Houston-based commercial property lawyer can be your best help. You can rely on us to help you fulfill the following duties.
Handling commercial property transactions is not easy. The processes can be complicated and can bring a significant impact on your financial situation. It is, therefore, necessary to consider seeking legal assistance from a reliable commercial property attorney in Houston, Texas.
We will make this process simple and faster for you. Speak to our lawyers now!
According to the Texas property code statute, commercial property means rental properties that are not covered by Chapter 92 or the residential rental property. It is any real estate that has the potential to generate profit either through capital appreciation or rental income. If you can rent it out or hold on to it and resell it for a profit, it is a commercial property.
Commercial properties attract tenants to lease for businesses. These commercial tenants are usually business owners and corporations. Commercial leasing agreements are on longer terms typically ranging from five to ten years or even more on some occasions. It offers lower vacancy and turnover costs to commercial property owners.
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There are various types of commercial properties. Some are even confused about what is considered a commercial property. The below examples will help you identify commercial real estate properties.
Office buildings are constructed largely for the purpose of housing office space, which is often rented out to a diverse range of businesses and corporations. These commercial buildings may house a diverse collection of tenants or operate as office space for a single tenant.
Tenants in retail properties often provide consumers with opportunities to buy, dine, and engage in other types of entertainment. There are several distinct categories of retail properties, such as restaurants, retail strip centers or shopping centers, retail parks, or shopping malls.
Medical office buildings are devoted solely to housing healthcare tenants and typically offer an environment that fosters the development of strong referral partners and synergies among tenants in other healthcare-related businesses.
Greater numbers of medical office buildings can be found in Houston compared to any other city in the United States. This is largely attributable to the fact that Houston is home to the Texas Medical Center. A medical district that is renowned globally and recognized for the 49 institutions that make up its membership.
Businesses and corporations that are involved in the production and manufacturing of goods are the target tenants for industrial buildings. Industrial properties are categorized into four types.
Storage facilities and distribution warehouses are commercial properties that are usually a necessity in every industry. If your business provides goods and equipment, you need a large space to store them. Some businesses construct their own storage facilities and warehouses but the majority of businesses and corporations find leasing these properties more cost-efficient.
Types of commercial properties are not only limited to these sectors. There are still other properties that can be considered commercial property. If you are confused and need some legal advice in this field, you can contact a competent Houston commercial real estate attorney to help you.
Commercial property transactions can be overwhelming. Working with a commercial property lawyer in Houston, Texas from the get-go can prevent you from making mistakes that could end up costing you a lot of money. Commercial real estate contracts and agreements may include terms or phrases that are new and confusing to you.
Below are just a few of the common scenarios where you need to seek legal advice from a credible commercial property attorney.
Purchase and sale agreements are legally binding. It should always be in your best interest to fully understand all the terms and conditions in any contract you sign. You should also be informed of their implications, especially since stakes are usually high in sale and purchase agreements.
It will save you time and money to engage a reliable commercial real estate attorney before signing any purchase and sale agreements. You can also be assured you get the most value possible for your real estate transaction and your interest is always a priority if there would be contract violations.
Commercial lease agreements are complex and can be tricky. You need a competent Houston-based commercial property lawyer to provide landlords and tenants with legal advice during negotiation. They can help draft and analyze commercial leasing contracts to ensure all areas are covered and defined in the agreement.
Some commercial lease agreements aren’t very specific and have a tendency to be confusing. Typically, lease contracts include rent amount, lease start and end dates, and renewal terms and conditions. But aside from these, other details should also be included like, who will pay for building maintenance or property tax. All these details and more should be determined and properly identified in the lease contract.
Buying a newly constructed commercial property might be a good idea but it’s not always a smooth ride. There are many factors you need to consider and evaluate. And it can be best done with assistance from a seasoned commercial property lawyer in Houston.
What if the Texas government tries to take your commercial property for public use? Eminent domain gives the federal or state government the right to take private properties for public use. They can take private commercial property with or without permission but they must pay the property owner just compensation.
If your commercial building is being taken by the government to benefit the public, a knowledgeable commercial property attorney can fight for your rights to receive fair compensation.
It is crucial to have a thorough title examination conducted to find out possible title issues such as liens, tax problems, or more. These issues can cause problems and delays later on. It can impact the potential future sale of the property or incur more expenses.
A qualified Houston commercial property lawyer can provide a title examination before closing any real estate transactions. A keen eye for details and thoroughness in reviewing paperwork can help avoid any real estate dispute or legal concerns in the future.
A well-crafted commercial property lease agreement protects the owners’ or tenants’ rights. It also helps property owners, businesses, and corporations to mitigate commercial lease disputes but they can still be unavoidable. Common forms of commercial real estate lease disputes including
A commercial property attorney in Houston, Texas can help you resolve these disputes and enforce your rights either via negotiation or real estate litigation.
Did you receive an overassessment of your commercial property tax? Do you think it is unreasonable? What are your options? If your commercial property has been overvalued by the property tax assessor, you have the right to appeal.
If you lack the knowledge on how to appeal and you are not sure about the process of property tax appeal, you can hire a credible Texas commercial property attorney. A legal representative who has handled multiple cases in overvalued property tax can help you achieve a positive outcome.
When selling, buying, or leasing commercial property, environmental and hazardous waste issues should not be overlooked. You may incur potential liability to federal and state government agencies, and private parties if your property violated environmental policies.
In order to minimize the risk of environmental and hazardous waste problems, it is crucial to conduct a thorough investigation into the history and business practices associated with commercial property before buying or renting it. Otherwise, you may be forced to take responsibility for the environment and hazardous waste contamination caused by the previous property owner or tenant.
An experienced commercial property lawyer is well-versed in these issues and can help you identify and resolve them before entering into a real estate transaction.
Commercial properties are subject to zoning restrictions and land use. Any violations can result in heavy fines. Whether you are leasing or buying a newly constructed commercial property, or expanding or renovating it, you need legal advice in navigating state and local statutes and regulations. Development planning and zoning issues can pose obstacles to your property.
A Houston commercial property attorney with skills and knowledge in working with zoning and planning regulations can guide you through this process.
Transactions involving commercial real estate have the potential to generate a significant amount of profit. But when a commercial property transaction goes wrong, there are serious consequences and a significant amount of money at stake.
Thankfully, you won’t have to worry about each and every aspect of your commercial real estate transaction if you have the assistance of a well-rounded Houston commercial property lawyer. With GK Law on your side, you can rest assured that you have an attorney working diligently and tirelessly to pursue your best interest. You can count on us to answer all your inquiries and lead you toward a beneficial commercial transaction.
Do not delay in calling our law office if you have any questions or concerns. We can help you make the best decisions for your commercial property investment. Reach out to us now!