How much for a solicitor review of a commercial lease agreement?

H

Horatio

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A friend of mine is in the process of renting out a commercial property for his small business.

He has a lease agreement in hand and wants to get a solicitor to review it, due diligence in essence.

He has approached one solicitor who quoted him €1000 for the review.

I told my buddy that this seems extraordinarily expensive for what I perceived to be one or maybe two hours work. What are your thoughts on this folks is a grand crazy money for reviewing what is probably a boilerplate lease agreement. Thanks in advance folks.

I haven’t looked into it yet, but I’d imagine there are online Solicitors that would do this for him for a fraction of the cost. I’ll take a look and post back my findings here.
 
I would suggest that a solicitor doesn't simply "review" a commercial lease. This is a transaction not unlike purchasing a house.
 
Seems reasonable to me. They are long documents. You have to review them. Summariise them and then you usually will include a round of follow up questions as part of the quote
 
€1,000 is very reasonable. A commercial lease could have many pitfalls such as personal guarantees for repairs, automatic rent reviews, restrictions on use etc
 
Given solicitors typically charge 400/hour + VAT and you estimated it could be 2 hours work this seems within a normal range
 
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