In the dynamic and ever-evolving landscape of the modern workplace, having a well-structured and comprehensive Employee Handbook is crucial for employers. This document serves as a guidebook that outlines an organization's expectations, policies, and procedures, fostering a positive work environment, ensuring legal compliance, and promoting effective communication.
 
Why is an Employee Handbook Important?
 1. Clarity and Consistency:
An Employee Handbook clarifies the company's mission, values, and expectations. It ensures all employees know the organization's rules and policies, fostering a consistent and fair work environment.
 
2. Legal Compliance:
The handbook is a legal safeguard by clearly articulating the company's policies, procedures, and compliance with local, state, and federal employment laws. This can protect the organization from legal disputes and ensure that employees are treated equally within the bounds of the law.
 
3. Communication of Expectations:
An Employee Handbook communicates the company's expectations regarding employee conduct, performance, and responsibilities. This helps align employee behavior with organizational goals, reduce misunderstandings, and promote a positive workplace culture.
 
4. Onboarding and Training:
 It is an essential tool during onboarding, providing new hires with valuable information about the company's culture, policies, benefits, and procedures. This aids in integrating new employees, reducing the learning curve, and improving overall productivity.
 
5. Conflict Resolution:
The handbook can be a valuable resource in resolving conflicts by providing a clear framework for addressing harassment, discrimination, and disputes. Having a predefined process helps in managing conflicts fairly and consistently.
 
What Goes into an Employee Handbook?
1. Welcome and Introduction:
A warm welcome message from the company's leadership. An introduction will also introduce employees to the organization's mission, values, and culture.
 
2. Employment Policies:
Clear articulation of employment policies, including but not limited to:
   - Equal employment opportunity
   - Anti-discrimination and harassment policies
   - Code of conduct and ethics
   - Work hours and attendance
   - Dress code
 
3. Compensation and Benefits:
This sectoin must outline detailed information on employee compensation, benefits, and any other perks the company offers.
 
4. Health and Safety:
Make sure to have guidelines on workplace safety, emergency procedures, and health and wellness policies if applicable.
 
5. Leave Policies:
Setting clear policies on vacation, sick leave, maternity/paternity leave, and other types of leaves help for less miscommunication down the road.
 
6. Performance Expectations:
Information on performance evaluation processes, feedback mechanisms, and opportunities for professional development.
 
7. Technology and Security Policies:
Guidelines on the use of company technology, data security, and confidentiality.
 
8. Termination and Resignation:
Clearly defined procedures for voluntary and involuntary termination, including exit interviews.
 
For further information, here is a link to the TWC guidebook for employers: 
https://www.twc.texas.gov/sites/default/files/commissioners/docs/texas-guidebook-for-employers-twc.pdf
 
In conclusion, Employee Handbooks are vital information for organizations to ensure clarity, compliance, and effective communication within the workplace. It serves as a reference guide for employers and employees, promoting a positive work culture and minimizing legal risks. Regular updates and revisions to the handbook make for a relevant, crucial resource for all stakeholders in the organization. If you need help creating or making changes to an employee handbook, do not hesitate to contact our office. We would love to help!

Copyright by Cohoon Legal 2024.
DISCLAIMER: The information you obtain at this site is not, nor is it intended to be, legal advice. Any links to outside websites does not mean that Cohoon Legal endorses or is any way affiliated with the third-party website or company and no liability exists or is created through the link. You should consult an attorney for advice regarding your individual situation.

In the intricate dance of employment and taxation, the distinction between W-2 employees and 1099 independent contractors is more than semantics. Employers walk a fine line when classifying their workforce, and understanding the implications of W-2s and 1099s is crucial. In this blog post, we'll delve into the disparities between the two classifications, explore business needs for each, and shed light on employers' year-end responsibilities, including the crucial deadlines for sending out these tax forms.

Understanding W-2s and 1099s:
1. W-2 Employees:
W-2 employees are the bedrock of traditional employment. These individuals work under the employer's direct control and receive regular paychecks. Employers withhold income taxes, Social Security, and Medicare taxes from their wages, and W-2 employees are entitled to various benefits.
2. 1099 Independent Contractors:
Independent contractors operating under a 1099 status are a more autonomous group. They are responsible for their taxes, including income tax and self-employment tax. Independent contractors have greater flexibility in determining their work schedules and using their tools and resources.

Business Needs for W-2s and 1099s:
1. W-2 Employees:

• Long-Term Commitment: W-2 employees are ideal for businesses with long-term projects or ongoing needs. These employees contribute to the stability and growth of the company, often benefiting from employee benefits such as health insurance and retirement plans.
• Structured Work Environment: For roles that require close supervision and adherence to company policies, W-2 employees offer the advantage of a more structured work environment.

2. 1099 Independent Contractors:

• Flexibility: Independent contractors provide businesses with flexibility for short-term projects or specialized tasks. This classification is cost-effective for projects that don't necessitate a long-term commitment.
• Cost Savings: Employers can save on benefits and taxes by hiring independent contractors. This is particularly advantageous for businesses looking to optimize costs and allocate resources efficiently.

Year-End Responsibilities for Employers:
1. Classification Review:
As the year draws to a close, employers should review the classification of their workforce. Ensuring that each worker is correctly designated as a W-2 or a 1099 (independent contractor) is critical for compliance.
 
Whether a person should be classified as a W-2 employee or 1099 contractor is not a decision left up to the business, but rather, there are defined roles that Texas state law determines how a person is classified.  If a person is classified improperly, then the business can face taxes and interest, it may result in a fine and raises unemployment rates for all employers.  What a business can do though is plan for the work that have and determine if it falls under the W-2 or 1099 classification and that can be done by visiting https://www.twc.texas.gov/ or you can discuss it on a consultation with our attorney.   The Texas Workforce Commission applies a 20-point guide to determine if a Worker is an Employee or an Independent Contractor, see more at the link: https://www.twc.texas.gov/programs/unemployment-tax/classifying-employees-independent-contractors
 
2. W-2 and 1099 Preparation:
Employers must provide W-2 forms to their employees and 1099 forms to independent contractors by the end of January. The specific deadline is January 31st for the previous year’s wages. These forms detail the income earned and taxes withheld, enabling individuals to file their tax returns accurately.
 
3. Filing with the IRS:
Employers are also responsible for submitting copies of W-2s to the Social Security Administration and the Internal Revenue Service. Additionally, 1099 forms must be filed with the IRS to report payments to independent contractors for services.
 
In conclusion, the decision to classify workers as W-2 employees or 1099 independent contractors is guided by Texas law, and it carries significant implications for employers and workers. As the year concludes, employers must diligently fulfill their responsibilities, ensuring that the correct tax forms are provided to each worker by the January 31st deadline. By understanding the nuances of W-2s and 1099s and meeting year-end obligations, employers can foster compliance and build a foundation for a successful and legally sound business.

Copyright by Cohoon Legal 2024.
DISCLAIMER: The information you obtain at this site is not, nor is it intended to be, legal advice. Any links to outside websites does not mean that Cohoon Legal endorses or is any way affiliated with the third-party website or company and no liability exists or is created through the link. You should consult an attorney for advice regarding your individual situation.

Holidays are a time for relaxation, celebration, and spending quality moments with loved ones. In the state of Texas, like many other places, employees look forward to holiday pay and paid time off (PTO) as a way to enjoy their well-deserved breaks. However, understanding your rights and entitlements regarding holiday pay and PTO in Texas can be confusing. This post highlights these crucial labor benefits and helps you navigate the complexities of Texan labor laws.
 
Texas Holiday Pay
Texas state law does not mandate holiday pay, so employers are generally not required to provide holiday pay to their employees. However, many employers offer holiday pay as a benefit to attract and retain employees. It's essential to check your employment contract or your company's policies to understand whether you're eligible for holiday pay and the conditions attached to it.
 
If your employer does provide holiday pay, make sure to clarify the following:
1. Eligibility: Some employers may require employees to meet specific criteria to receive holiday pay. These criteria include working several hours, being employed for a specific time, or regularly attendance.
2. Holiday List: Not all companies observe the same holidays. You should know which holidays your employer recognizes and which are eligible for holiday pay.
3. Overtime Pay: If you work on a holiday, you might be eligible for overtime pay. Ensure you understand the terms and rates for holiday overtime in your employment contract or company policies.
 
Texas Paid Time Off (PTO)
Paid Time Off (PTO) is an employee benefit that compensates for time away from work, such as vacation days, sick days, or personal days. While Texas law doesn't require employers to offer PTO, many do to remain competitive and attract top talent. 
 
When it comes to PTO, consider the following:
1. Accrual and Usage: PTO policies vary among employers. Some companies offer a fixed number of PTO days each year, while others implement an accrual system where you earn PTO based on the time you've worked. Know how your employer's PTO system works and when you're eligible to use it.
2. Carryover and Payout: Employers in Texas are not obligated to allow PTO carryover from one year to the next, and they may have different policies regarding unused PTO payout when you leave the company. Review your employment contract or company policies for this information.
3. Usage Restrictions: Some employers may restrict when you can use PTO, especially during busy periods. It is vital to know and plan for blackout dates or restrictions. 
4. Notification and Approval: Always follow your employer's procedures for requesting and obtaining approval for PTO. Provide adequate notice and follow specific protocols outlined in your company's policies.
 
Know Your Rights
Understanding your rights with holiday pay and PTO in Texas is essential to ensure you receive the benefits you're entitled to and to make the most of your time away from work. Familiarize yourself with your employment contract, employee handbook, or company policies to gain a clear understanding of how your workplace handles holiday pay and PTO.
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If you ever have concerns about your holiday pay or PTO, consult with your HR department or seek legal advice if necessary. It is helpful to know your rights and responsibilities will help you enjoy your well-deserved breaks with confidence and peace of mind. Holiday pay and PTO are valuable benefits that enhance the work-life balance of employees in Texas. While they are not mandated by state law, many employers offer them as part of their compensation packages. Understanding your rights and entitlements regarding holiday pay and PTO is crucial, so take the time to thoroughly review your employment contract and company policies to ensure you make the most of these essential benefits.

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Copyright by Cohoon Legal 2023.
DISCLAIMER: The information you obtain at this site is not, nor is it intended to be, legal advice. Any links to outside websites does not mean that Cohoon Legal endorses or is any way affiliated with the third-party website or company and no liability exists or is created through the link. You should consult an attorney for advice regarding your individual situation.

1.What types of partnerships does Texas recognize?
Texas recognizes several types of partnerships, including general partnerships (GPs), limited partnerships (LPs), and limited liability partnerships (LLPs).

2.Is it necessary to register a partnership in Texas?
General partnerships are not required to register with the state of Texas, but creating a partnership agreement is advisable. Limited and limited liability partnerships must also file their Certificate of Formation with the Texas Secretary of State.

3.What is a Certificate of Formation, and how do I file it for an LP or LLP in Texas?
A Certificate of Formation is a legal document that officially registers an LP or LLP with the state. You can file this document with the Texas Secretary of State's office, either online or by mail, along with the required filing fee.

4.Do I need a written partnership agreement for a Texas partnership?
While not legally required, having a written partnership agreement for any cooperation in Texas is strongly recommended. This document outlines the partnership's roles, responsibilities, and terms and helps prevent misunderstandings.

5.How are profits and losses taxed in a Texas partnership?
In a Texas partnership, profits and losses pass through to the individual partners, who report them on their tax returns. Texas does not impose state income tax on associations.

6.Can a Texas partnership have foreign partners or operate in other states?
Yes, a Texas partnership can have partners who reside outside the state and conduct business in other states. However, it may need to register as a foreign entity in those states if it meets specific criteria.

7.What are the liability implications for Texas partnerships?
In a general partnership (GP), partners have unlimited personal liability for the partnership's debts and obligations. There is no filing or written agreement required to form a GP and therefore it is the easiest to form but yet also the most dangerous because of the lack of any formality and the unlimited risk to each partner.
Limited partners in a limited partnership (LP) have limited liability, while general partners in an LP are personally liable. Limited liability partners (LLPs) enjoy little liability protection.

8.How do I withdraw or dissolve a Texas partnership?
The process for dissolving a Texas partnership depends on the type and terms outlined in the partnership agreement. Generally, it involves a partner vote and the distribution of assets and liabilities.

9.Are there any annual reporting requirements for Texas partnerships?
Texas does not require yearly reports for general partnerships. Limited and limited liability partnerships must file periodic reports with the Texas Secretary of State.

10.Can I convert a Texas partnership into another business structure, like an LLC or corporation?
It is possible to convert a Texas partnership into a different business structure. Partners must follow the specific requirements and procedures for conversion. Consulting with an attorney is also advisable.

11.Is forming a partnership advisable, whether it is a GP, LP, or LLP?
Due to the pitfall and liability issues, it is important to understand that people that associate to carry on a business for profit can fall into a partnership unintentionally.  It is important to speak to a Business Attorney and Tax Professional to understand the risks and benefits that may come with forming a partnership informally or through my formal means of filing for an LP or LLP.


Copyright by Cohoon Legal 2023.
DISCLAIMER: The information you obtain at this site is not, nor is it intended to be, legal advice. Any links to outside websites does not mean that Cohoon Legal endorses or is any way affiliated with the third-party website or company and no liability exists or is created through the link. You should consult an attorney for advice regarding your individual situation.

Forming a small business in Texas is an exciting endeavor filled with opportunities and potential for growth. However, it's essential to be aware of the various regulatory bodies and requirements that govern business operations in the state. In this blog post, we'll explore four crucial aspects that small business owners in Texas need to be aware of: the Secretary of State (SOS), the Office of the Attorney General (OAG), the Texas Comptroller of Public Accounts, and the Texas Workforce Commission (TWC).

1. Secretary of State (SOS): The Secretary of State in Texas can significantly affect small business owners by overseeing various aspects of business registration, compliance, and regulation. Their office is vital in facilitating the legal operation of businesses in the state, which can impact the ease of doing business. 

• Business Formation and Registration: The Secretary of State's office registers businesses in Texas, including sole proprietorships with an assumed name (DBA), partnerships, corporations, and limited liability companies (LLCs). Small business owners must register their interactions with the Secretary of State to operate legally. The ease of registration, the availability of online services, and the processing time for business filings can all affect small business owners' ability to start and operate their businesses.
• Business Records and Information: The Secretary of State maintains records and information related to businesses in Texas. Small business owners often rely on these records for various purposes, such as verifying business names, conducting due diligence on potential partners or investors, and accessing public information about other businesses.
• Trademark and Trade Name Registration: Small businesses often must protect their brand through trademark registration. The Secretary of State's office oversees the registration of business trade names and trademarks, which can impact small business owners' intellectual property rights and brand protection.
• Regulatory Compliance: The Secretary of State's office may ensure that businesses comply with various state regulations and requirements. Small business owners may need to navigate these regulations, and the Secretary of State can affect the ease or complexity of compliance processes.

2. Office of the Attorney General (OAG): Protecting Your Business and Consumers-
The OAG in Texas is vital in protecting businesses and consumers. Small business owners should be aware of several key areas the OAG oversees:

• Consumer Protection: The OAG enforces laws that protect consumers from deceptive trade practices, fraud, and unfair business practices. Small businesses must be transparent and honest in their customer interactions to avoid legal issues.
• Contractual Agreements: Ensuring your business's legally sound contracts are essential. The OAG can guide you in drafting contracts that protect your interests and comply with state laws.
• Collections and Debt Recovery: If your business faces difficulties collecting customer payments, the OAG can provide information on legal debt collection practices.

3. Texas Comptroller of Public Accounts: Managing Business Taxes-
The Texas Comptroller of Public Accounts oversees taxation and revenue collection in the state. For small business owners, understanding your tax obligations is crucial:

• Sales Tax: Depending on your business activities, you may need to collect and remit sales tax to the state. It's essential to calculate and report sales tax to avoid penalties accurately.
• Franchise Tax: Many businesses are subject to the Texas franchise tax based on the business's margin.  The deadline usually falls on or around May 15th but check the website for the exact deadline.  All businesses must file the Texas Franchise Tax Form, but there are No Tax Due reports if you fall under the minimum revenue; again, check the website as the threshold can change through legislation.
• Online Sales: If your business conducts online sales, be aware of the state's rules regarding sales tax on e-commerce transactions.

4. Texas Workforce Commission (TWC): Navigating Employment Regulations-
For businesses with employees, the Texas Workforce Commission is a critical agency to understand:
Unemployment Insurance: If you are an employer, you may be required to pay unemployment insurance taxes to supply benefits to eligible workers who become unemployed.

• Labor Laws: Familiarize yourself with Texas labor laws, including minimum wage requirements, employee classification (e.g., exempt vs. non-exempt), and workplace safety regulations.
• Workplace Discrimination: The TWC enforces laws prohibiting workplace discrimination, including race, gender, age, and disability. Small business owners should create an inclusive and respectful work environment.

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In conclusion, running a small business in Texas requires more than just a great product or service – it demands a thorough understanding of the regulatory landscape. The Secretary of State, Office of the Attorney General, the TWC, and the Texas Comptroller of Public Accounts all play essential roles in ensuring fair business practices, proper business forms and filings, taxation, and compliant employment policies. By staying informed and proactive, small business owners can navigate these aspects effectively and lay the foundation for a successful and sustainable business journey in the Lone Star State.


Copyright by Cohoon Legal 2023.
DISCLAIMER: The information you obtain at this site is not, nor is it intended to be, legal advice. Any links to outside websites does not mean that Cohoon Legal endorses or is any way affiliated with the third-party website or company and no liability exists or is created through the link. You should consult an attorney for advice regarding your individual situation.

In an era of increasing accessibility and convenience, online platforms like Rocket Lawyer and LegalZoom have emerged as popular resources for individuals seeking assistance with legal documents. These services promise comfort, affordability, and ease of use, making them an attractive option for those navigating the complex world of legal paperwork. However, beneath the surface lies a crucial aspect that users should be aware of -disclaimers. This article delves into the importance of understanding releases when utilizing services like Rocket Lawyer and LegalZoom for your legal documents.
 
The Rise of Online Legal Services
Gone are the days when legal processes were solely the domain of law firms and attorneys. The advent of technology has paved the way for a new approach to legal assistance that empowers individuals to create, modify, and access various legal documents without stepping foot into a law office. Online platforms such as Rocket Lawyer and LegalZoom have democratized the legal landscape by offering templates and guidance for various legal needs, from creating wills to drafting contracts.
 
The Power of Disclaimers
While the convenience of these services is undeniable, it's crucial to understand the role that disclaimers play. Disclaimers outline the service's limitations and clarify the boundaries of responsibility.
 
These legal disclaimers often underscore several vital points:

1. Not a Substitute for Legal Advice - One of the most essential aspects of disclaimers is the emphasis that these services are not a substitute for professional legal advice. They provide a general framework and templates, but they may not cover the specific nuances of your situation. Rocket Lawyer and LegalZoom help you understand the basics of legal documents, but there may be better answers to address intricate legal matters that require expert guidance.
2. Personal Responsibility - Disclaimers remind users they are responsible for the accuracy and appropriateness of the documents they create using these platforms. Reviewing and customizing templates to suit your unique situation is vital. Ignoring this step could lead to serious legal consequences down the road.
3. Changes in Laws and Regulations - The legal landscape is constantly evolving, with laws and regulations subject to change. Disclaimers typically inform users that the information and templates provided might not be current or relevant. Staying informed about the legal environment and making necessary adjustments to your documents are essential to ensure their validity.
4. No Attorney-Client Relationship - Engaging with online legal services does not establish an attorney-client relationship. It means you won't have the privilege of attorney-client confidentiality or the personalized advice that comes with a professional attorney. Consulting an attorney might be a better course of action if your legal matter requires a deeper understanding and tailored guidance.
5. Making Informed Decisions - As with any service, awareness is vital. Read and understand the disclaimers provided when utilizing Rocket Lawyer, LegalZoom, or similar platforms. Acknowledge the limitations of the service and consider the complexity of your legal situation. These services can be valuable tools if you're dealing with a straightforward matter that doesn't require in-depth legal expertise. However, seeking professional legal counsel is a safer bet for complex or highly personalized situations.

 
Ultimately, online legal services have transformed how we approach legal matters, offering a middle ground between DIY solutions and traditional law firms. By understanding the significance of disclaimers and their implications, you can navigate these platforms effectively and make informed decisions that align with your legal needs. Remember, while technology can provide tools, it's your responsibility to wield them wisely in the realm of the law.


​Copyright by Cohoon Legal 2023.
DISCLAIMER: The information you obtain at this site is not, nor is it intended to be, legal advice. Any links to outside websites does not mean that Cohoon Legal endorses or is any way affiliated with the third-party website or company and no liability exists or is created through the link. You should consult an attorney for advice regarding your individual situation.

Issue: Husband and Wife wanted to create an estate plan for their adult children and grandchild. They had a rental property in Texas as well as another state and wanted to avoid probate. One property had a mortgage, but the other was paid off.
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​Solution: Cohoon Legal established an estate plan with a Pour-over Will for all the assets to go into the intervivos Trust (Living Trust) that was established for the beneficiaries. We created a Texas Series LLC for the real estate and put each property into the series; then, the Trust was created and assigned the LLC membership interest of the husband and wife. This allowed for the business and real estate to continue after the passing of either client (husband and wife), and no probate would be necessary in either state. We worked with another law firm in the other state to complete the deed transfers into the Series LLC.  In the business organization documents, we drafted a resolution for the assignment of interest after the passing of either client. This was a complex set of transactions in addition to the standard estate planning documents, which protected the assets of the business and prevented the need for costly probate.


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​Copyright by Cohoon Legal 2023.
DISCLAIMER: The information you obtain at this site is not, nor is it intended to be, legal advice. Any links to outside websites does not mean that Cohoon Legal endorses or is any way affiliated with the third-party website or company and no liability exists or is created through the link. You should consult an attorney for advice regarding your individual situation.

When creating an estate plan in Texas, there are several key elements you should consider including. It's essential to consult with an experienced estate planning attorney in Texas to ensure your estate plan meets all legal requirements and effectively reflects your wishes. Laws vary in each state, so a professional can guide you through the process and address your needs and concerns according to your state’s law.
 
The first key element is a Will. A will organizes how assets and property are allocated after your death. It also allows you to appoint an executor to manage your estate and name guardians for any minor children. Completing a will does not avoid probate, but it is a necessary document in any estate plan.
 
Next, designate someone you trust as your agent through a durable power of attorney.  A power of attorney is effective during your life and does not affect your assets after your death. If you become incapacitated, this person will have the call to make financial and legal decisions in your best interest. Along with durable power of attorney, appoint a trusted individual as your healthcare agent through a medical power of attorney. If you cannot, this person will make medical decisions for you.
 
A living will, also known as an advance healthcare directive, expresses your wishes regarding medical treatment and life-sustaining measures in the event of a terminal illness or persistent vegetative state.
 
It is also essential to sign a HIPAA authorization form to grant permission for healthcare providers to disclose your medical information to designated individuals, ensuring they can make informed decisions on your behalf.
 
Another consideration in your estate planning process is creating a revocable living trust to manage your assets during your lifetime and dictate how those assets distribute after your death. This trust can aid in avoiding probate. It also provides privacy and flexibility in asset distribution.
 
If you have property in multiple states or real estate and one or more businesses, it is important to understand how your estate plan can work to make the process smooth for your family and business.
 
Review the beneficiaries on all accounts, life insurance policies, and other assets. Ensure they align with your estate plan, as beneficiaries supersede instructions in a will or trust.
 
A letter of intent will guide your loved ones regarding your final wishes, funeral arrangements, and other important information or instructions. If you have minor children, designate guardianship in your will to ensure they are cared for by someone you trust if you pass away.
 
Review and update your estate plan often to account for changes in your circumstances, such as marriages, divorces, births, deaths, or significant changes in assets. If you need assistance with estate planning, Cohoon legal would be more than happy to help.
 

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​Copyright by Cohoon Legal 2023.
DISCLAIMER: The information you obtain at this site is not, nor is it intended to be, legal advice. Any links to outside websites does not mean that Cohoon Legal endorses or is any way affiliated with the third-party website or company and no liability exists or is created through the link. You should consult an attorney for advice regarding your individual situation.

Do you need a commercial lease for your business? If so, this post will help you become more familiar with the provisions discussed in a typical commercial lease.

There are so many factors to consider when entering a commercial lease that can impact your business, so it is important to reach out to a real estate attorney with experience in negotiating and advising on leasing commercial property.  This list below will not sufficiently prepare you to understand or negotiate for the best lease, but it will help you be more familiar with the necessary sections of a typical commercial lease.

Here are some key things to look for in the lease agreement:
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1. Lease term: The lease should clearly state the beginning and final dates of the lease term and any renewal options.  What is the requirement for giving notice that you are leaving at the end of your lease term or if you want to renew your lease?

2. Rent and payment terms: The lease should specify the amount of rent, how and when rent is due, and any late fees or penalties for non-payment.  Is it a Triple Net Lease (NNN) which is becoming a very common lease type for commercial property? 

3. Security deposit: The lease should specify the amount of the security deposit and the conditions under which the landlord may retain it.

4. Maintenance and repairs: The lease should specify the responsibilities of the landlord and tenant for maintaining and repairing the property, including any costs that are the tenant's responsibility. What are the Common Area Maintenance (CAM) fees, and what is included in those fees? These are important to know because it means additional costs each month that are separate from your rental monthly payments.

5. Use and occupancy: The lease should specify how the tenant is allowed to use the property, any restrictions on the use of the property, and any zoning or other legal requirements. 

6. Alterations and improvements: The lease should specify whether the tenant can make alterations or improvements to the property, and if so, what procedures they must follow and who is responsible for the costs.  Who is responsible for paying for the buildout?  It is important to decide whether completing the buildout as the tenant is better or having the landlord do it. There are reasons for each option to consider.

7. Insurance and liability: The lease should specify the insurance requirements for the tenant and who is responsible for any damages or liabilities on the property.

8. Termination and default: The lease should specify the conditions under which the landlord or tenant may terminate the lease and what happens in case of a default by either party.
 
It's essential to review and negotiate the terms of a commercial lease carefully before signing. Speaking with a real estate attorney is a good idea because many of these terms can be negotiated, and unfortunately, many clients seek an attorney when they have broken the lease or after an issue arises, knowing what to expect and what you are responsible for under the lease terms is vital, so you do not breach it.
 
The lease for a commercial tenancy is the guideline that both landlord and tenant must follow, so, as a tenant, you should also understand what the landlord is responsible for and what remedies you may have if they are not following the lease. By understanding the terms of the lease and protecting your interests, you can help ensure a successful and profitable leasing experience.
 
For more information about Triple Net Leases and Common Area Maintenance, click the links: 
https://rb.gy/xc2rp
https://rb.gy/d3pfm

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​Copyright by Cohoon Legal 2023.
DISCLAIMER: The information you obtain at this site is not, nor is it intended to be, legal advice. Any links to outside websites does not mean that Cohoon Legal endorses or is any way affiliated with the third-party website or company and no liability exists or is created through the link. You should consult an attorney for advice regarding your individual situation.