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