how much should it cost for an attorney to review a lease contract

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.

Full Answer

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

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 does it cost to review a lease?

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

Do I need a lawyer to review a commercial lease?

Apr 25, 2020 · The attorney I reached out to, from a reference, specializes in real estate and after doing some initial review and going over changes that need to be made, he said that total billable hours will end up being 4-6 hours at $340/hr. So the total may be as high as $2000.

How much does it cost to get a contract drawn up?

Why do lawyers review contracts?

How do you review a contract?

How long does a contract review take?

What is contract Review Checklist?

Why should you review contracts?

What does contract review mean?

What are the 4 elements of a valid contract?

How much does a lawyer charge per hour?

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. Understand that these are the smallest "chunks" of time that the lawyer will bill for, ...

Do lawyers charge for photocopying?

Lawyers may charge you for more than just the value of their services. Typically, lawyers charge clients for costs that are not included in the lawyer's normal office overhead, such as travel, hiring experts, time spent on online legal research databases, or other consultants—and some even charge for photocopying! Be sure to find out whether you will be charged for itemized costs and, if so, what they are and how much you'll pay.

How to establish a lawyer-client relationship?

Old-fashioned as it may seem, the simple handshake is still widely regarded as an -acceptable basis for establishing a lawyer-client relationship. But not everyone is so casual—at the other end of the spectrum, where the interaction between you and your lawyer is more formal, you may find yourself handed multiple pieces of paper, such as: 1 a client information form, which asks for details on your business, your finances, and who (if anyone) referred you to the lawyer's office 2 a brochure describing the law practice and the education and experience of the firm's lawyers, and 3 a "retention letter" or a contract, detailing the lawyer's billing practices and describing the extent of the work the lawyer will do for you. In some states, lawyers must present you with a retention letter or contract.

How long does a lawyer bill?

Most lawyers bill in six-, ten-, or 15-minute increments. Understand that these are the smallest "chunks" of time that the lawyer will bill for, even if a given task actually took less time.

What is flat fee agreement?

In a flat fee agreement, you pay the same amount regardless of how much time the lawyer spends on the particular job. When an attorney is highly recommended by others and the flat fee is moderate, this can be a great arrangement for you.

What is a retention letter?

a "retention letter" or a contract, detailing the lawyer's billing practices and describing the extent of the work the lawyer will do for you. In some states, lawyers must present you with a retention letter or contract. If the lawyer you've chosen has dispensed with these formalities, you may not care very much—after all, ...

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.

How long does it take to review a lease?

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.

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.

Jay B. Shuster

Sit with client, review and clarify lease 1 hour. Negotiate, as long as it takes.

Thomas H Gimer

Commercial landlords aren't expecting tenants to agree to their leases. Best course of action is to retain an attorney and benefit from review and negotiation of terms most important to the business.

Brandy Ann Peeples

It depends what you are looking for -- a review with potential changes and negotiation? Or, are you looking just for the attorney to explain to you what the lease means? Some commercial transactions are very complicated; others more on the simple side.

Do lawyers specialize in real estate?

Most lawyers who don't specialize in real estate have only limited experience in landlord-tenant legal issues—and even those with some experience may know only about residential tenancies. So if you just pick a name out of the phone book or go to the lawyer who prepared your will, you may wind up with someone who's less than ideal for handling commercial lease issues.

What can a lawyer do for you?

Here are some of the important things a good lawyer can do for you: Spot subtle (or even not so subtle) variations on a lease clause you are familiar with, and explain its meaning to you. Warn you of hidden problems (or windfalls) in the lease that aren't-obvious to the unprofessional eye.

How long is a lease?

An average lease is 40 pages long. It's the wording that you have to watch out for. A lease protects the Landlord, so it's favoured in their direction naturally as they are protecting their asset in which they receive cash flow, but a Tenant also has rights they need to be looked after.

How long is a commercial lease?

Commercial leases are typically 3 to 5 years in length. That will feel like an eternity if you are stuck with a lease that is seriously skewed to your landlord’s advantage whether its with arbitrary management fees or ridiculous eviction clauses.

What to consider when hiring a lawyer?

If not, here are a few things to consider: 1. The very act of hiring a lawyer shows your landlord that you’re serious and can’t be easily pushed around or deceived. Landlords will be less likely to overstep knowing you have a lawyer on hand who can and will initiate legal action at the first sign of wrongdoing. 2.

What is lease protection?

It's the wording that you have to watch out for. A lease protects the Landlord, so it's favoured in their direction naturally as they are protecting their asset in which they receive cash flow, but a Tenant also has rights they need to be looked after.

Do lawyers pay for themselves?

3. (Good) lawyers PAY FOR THEMSELVES. No really, they do. While having a lawyer may initially be an extra expense, he or she seriously has the ability to maximize your return on investment by saving you hundreds or even thousands over the years. Hiring a lawyer (should) cost less than one month’s rent. It’s therefore worth at least seeing if your lawyer can get you a better deal for the length of your lease.