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Renting Commerical Space?

November 6, 2018

GETTING TO THE DETAILS:

Finding the ideal commercial real estate property to meet all of your specific needs and preferences can be a real challenge, especially in hot markets where the prime spaces go quickly. Once you find that perfect space for your commercial needs, it can be tempting to sign the contract without going through all of the details. Here are a few key details to look for when examining the leasing contract:

UTILITIES RESPONSIBILITIES:

Like residential leases, commercial properties vary in the utility payment agreement. Take care to ensure that you understand what your responsibilities will be in paying for specific utility bills. Commercial leases often use a different set of legal terms to describe the responsibilities, so be sure that you understand the exact meanings of any unfamiliar terms in the agreement.

INSURANCE: In most commercial leases, the landlord does not cover the business equipment of the tenant. For this reason, it is imperative that you understand the coverage provided and take the necessary steps to ensure that you have adequate protection for all of your business equipment and office supplies.

In most commercial leases, the landlord does not cover the business equipment of the tenant. For this reason, it is imperative that you understand the coverage provided and take the necessary steps to ensure that you have adequate protection for all of your business equipment and office supplies.

UNDERSTANDING FEES: When going through the contract, you may find that there are a variety of fees that are not expected and are potential deal breakers. Talking to your future landlord may prove invaluable in negotiating these fees down so that you can put yourself in position to get the best deal.

When going through the contract, you may find that there are a variety of fees that are not expected and are potential deal breakers. Talking to your future landlord may prove invaluable in negotiating these fees down so that you can put yourself in position to get the best deal.

SUBLEASE OPTIONS: Although it is never ideal to have to break a lease, you should know your options if you need to get out of the contract. Every commercial lease contract should have a section clearly detailing your options.

Although it is never ideal to have to break a lease, you should know your options if you need to get out of the contract. Every commercial lease contract should have a section clearly detailing your options.

INSIGHT:

Just a few topics mentioned above that come up in our discussions with you regarding leasing. We can teach you how to have a keen eye to detail and help ensure that you understand all of the parameters of your contract before signing.

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