Signing a commercial property lease is a big investment. The success and failure of your business may actually rely on the particulars of the lease signed. Therefore, it is extremely important to understand the commercial lease specifics before you sign one.
Essentials of a Commercial Lease
Although each commercial lease is unique, there are some tenets that are essential and common in all:
- A lease term which states the contract duration, such as when will it begin and how to renew it
- Rent amount and conditions for increase during the contract term
- Your responsibilities, such as property taxes, maintenance costs, insurance, and utilities
- The security deposit amount
- Specifications of the space being rented
- Sign specifications
- Option for sublease available or not
- Dispute parameters such as whether you will pursue arbitration or mediation
- Steps for terminating the lease early including penalties and notices
How to Determine that the Commercial Lease Agreement Will Meet Your Business Requirements?
Hire our experienced real estate lawyer for commercial lease agreements. Before you sign a lease agreement, our lawyer will help you take the necessary steps to ensure that it meets all the unique needs of your business. This includes:
- The rent—our lawyer will make sure that the rent for the entire lease term is such that you can afford and don't struggle with rental payments.
- Lease term negotiation—We will help you negotiate a short-term lease with multiple renewals. This will protect you in the situation if the location no longer works for your business or your business outgrows and has to move somewhere else.
We will also make sure that the landlord allows you to make certain changes to the property according to your business and the lease allows you to set up business signs that are visible across the street to drum up walk-in business.
If you have any questions or concerns related to commercial leases or need the assistance of a skilled lawyer, contact us now. Our experienced real estate lawyer will review and negotiate a suitable commercial lease agreement that works best for your business. Call at 201-592-9190 to discuss your case. Don't sign the lease before we review it!