As a business owner, you know how important it is to find the right location for your operations. When you finally find that perfect building in the perfect area, you are likely eager to get the paperwork done and move in.
However, before signing on the dotted line, it’s important to make sure you aren’t making some of the most common mistakes when signing a commercial lease. The best way to avoid these is by knowing what they are.
1. Not understanding all the terms in the lease
Remember, a commercial lease is a legal document. Because of this, there will likely be legalese and jargon you don’t fully understand. Never sign a lease agreement that you don’t fully understand.
Be sure to ask questions, and if the property owner can’t explain it to you well, seek out a professional who can. Making sure you know all the lease terms is a must before signing anything.
2. Failing to negotiate parts of the lease that don’t work for you
As you read through the lease, if there’s something that doesn’t work for you or your business, address it with the building owner. There’s a good chance they will be happy to compromise with you to make the lease suit you both. However, if you don’t say anything and sign, you are legally obligated to follow the outlined terms.
Get the right commercial lease by avoiding these mistakes
If you plan to sign a commercial lease, it’s a good idea to take time to ensure you avoid the mistakes above. This will help you avoid issues and get terms that work for you and your business.