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How should you review a commercial lease?

| Dec 1, 2016 | Commercial Real Estate |

If the time comes to sign a commercial lease, you should first take a step back and understand what you are doing.

There is a lot that goes into signing a lease, so you don’t want to move forward until you are 100 percent comfortable with the language.

Here are some of the many questions you can answer as you review a commercial lease:

— How long does the lease run and does this match up with your goals as a business owner?

— Is there anything you are prohibited from doing on the property?

— How much is the rent each month and when is the money due?

— How is the rent to be paid on a monthly basis?

— What are the details associated with the security deposit? How much is it? What are the terms and conditions for obtaining the money once you move out of the space?

— Are you permitted to sub-let the space if you decide that it would be in your best interest?

— Is the cost of utilities included in the monthly rent payment?

— What are the responsibilities of the landlord with regard to maintenance and repairs?

These are just some of the most important questions to address as you review a commercial lease. No matter what comes to mind, make sure you clear the air before you sign on the dotted line.

If you review a commercial lease in great detail before signing, you’ll never have to worry about running into trouble or confusion at some point in the future.

Source: FindLaw, “Reviewing a Lease Checklist,” accessed Dec. 01, 2016

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