how much does it cost to hire attorney to review the lease

by Christiana Collier DDS Published 2 years ago Updated 1 year ago 9 min read

An attorney will typically charge an hourly rate of $200-$500 or more to review real estate contracts. Reviewing a standard two-page lease typically takes about 30 minutes, or $100-$250; longer and more complex documents will cost considerably more, depending on complexity and length -- including attachments, some contracts can be 100-200 pages.

Paying your lawyer by the hour is the most common method. In most parts of the United States, you can get competent services for your small business for $150 to $250 an hour. Most lawyers bill in six-, ten-, or 15-minute increments.

Full Answer

How much does it cost to hire a commercial lease lawyer?

Sometimes a lawyer will quote you a flat fee for a specific job—for example, the lawyer may offer to review your commercial lease for $450. In a flat fee agreement, you pay the same amount regardless of how much time the lawyer spends on the particular job.

How much does it cost to hire a lawyer to review contracts?

Apr 27, 2020 · It’s awesome. My law firm has 30 attorneys and I pay a fee of $35 per month and they will review up to 20 leases/contracts per year at no extra cost. Plus unlimited consultation on any other issues too at no extra cost. I recently signed a lease with a tenant but even before the tenant moved in there was a problem.

Do I need a lawyer to review a commercial lease?

Feb 21, 2022 · Building Lease Review Cost Hiring a lawyer to review a building lease will also come with fees. In addition, the renter will have to pay a lawyer for their time and legal knowledge. ContractsCounsel’s marketplace data shows the average building lease review costs to be $495.63 across all states and industries.

How much does it cost to review a lease?

Jul 23, 2020 · This easy, “explain-this-to-me”, contract review will cost you approximately between $150 and $350 and you’ll spend very little time in contact with your attorney, as it’s almost always conducted over the phone. In short, if you can limit the extent of the contract review, the attorney fees will not hurt your pocket as much.

How much is a contract review?

Contract review costs vary depending on the length of the contract, risk of the transaction, and how many sections needs to be revised. Based on ContractsCounsel's marketplace data, the average cost of a project involving a contract review is $608 .Jul 19, 2021

How do I review a lease agreement?

Take advantage of this valuable time with your future tenant and use these 7 tips for reviewing your lease agreement.Choose the right location. ... Allow for plenty of time. ... Dress professionally. ... Bring all the paperwork. ... Go over the lease together. ... Take the time to listen. ... Take notes for later.May 5, 2015

What are the risks of subletting an apartment you are renting?

The tenant you sublease to can steal your things. Many subtenants damage the apartment on purpose, which you'll have to pay for in many cases. The landlord may evict you if subletting violates the lease agreement. The sublessee may not pay rent at all or on time, and you'll have to pay late fees and late rent payments.Nov 10, 2010

How do you read and interpret a lease?

The lease should include basic facts and data about the property, including the physical address and the landlord's name and contact information. It should also state the date the lease was signed; the beginning and end dates of the rental period; and options for lease renewal, including policies for rent increases.

How to determine the fee of a lawyer?

Just like with any question related to a lawyer’s services, the fee you will pay for a legal professional to look over your contract depends on the lawyer's hourly rate and the contract's complexity. Here are some factors it can depend upon: 1 The length of the contract 2 Your budget 3 What does the attorney need to look for 4 If you need just a review or help with drafting services 5 Your industry 6 Rules and regulations in your industry 7 The amount of money at stake 8 The duration of the contract 9 How much risk are you willing to take on 10 The number of signing parties involved 11 Your lawyer’s experience and current workload

What is issue specific contract review?

An issue-specific contract review is the most economical option if spending money is the most important factor for you. If you are mostly happy with the contract, but not quite clear on some of the specific terms or issues, or need a specific clause of the contract explained, the lawyer will just look over those specific areas of concern. A lawyer can help decipher the legalese and explain those terms in common English so you can figure out if they work for you. You don’t want to sign things you don’t understand, so if you're on a tight budget, but still need the peace of mind, this is a good way to feel more confident before signing the agreement.

Do lawyers charge flat fees?

Each lawyer sets his or her own prices depending on their own level of expertise and the fees they charge can vary greatly from one attorney to the next. Most of the time, however, lawyers use either flat-fee pricing or hourly pricing when they get hired to review a business contract.

What is redlining a contract?

In the legal world, this is known as “redlining a contract”, which can really help the whole process move along more smoothly. In other words, you don’t have to discuss the changes in your agreement with the other party, as they will receive the contract already finished with the option to accept or deny.

What is a real estate lease contract?

A real estate leasing or sales contract is a legally binding (and often complex) document which dictates the rights and responsibilities of all parties involved, including who pays for what, and what happens if something goes wrong. Having an attorney review the contract before you sign may prevent disputes or surprises later on.

How much does a real estate attorney charge?

Joseph Gufford III

That's a very difficult question to answer. I have seen commercial leases that are a thick as phone books. They typically have a lot of quirky little language that can be challenging. Be careful and make sure that the lease meets your business plan. Renewal options are especially important to take a look at.#N#More

Jordan L. Donaldson

I cannot speak for other firms, but depending on the length of the contract, we charge between $500-750 flat fee to review a commercial lease and provide recommendations if clauses need to be changed.

Marshall C Deason Jr

While I agree with the other lawyers answering your posting, you should not use price as the sole criteria for hiring a lawyer. You should choose a lawyer with experience in both real estate and small business transactions.

Aaron James Irving

Depends on the attorney and firm. Some may charge by the hour, others, like us, may do a flat fee to review and give a professional opinion. I would call around for prices.#N#www.IrvingReillyLaw.com...

Barbara Billiot Stage

It depends on how many pages the lease contains. Attorneys bill by the hour and the rate is based on years of experience. Rates also vary by area.