4 Commercial Leasing Tips
If you feel that you have found the perfect office space for your business, then you want to move quickly, so you don't miss out on the chance of leasing it. You also want to make sure you have some knowledge on some things you should do in order to get into a good lease and avoid future troubles down the road. This article will provide you with 4 tips you should keep in mind before you sign on the dotted-line:
1 – Make sure the length of the lease works for you: One of the most important parts of your lease will be regarding the length of time that it is good for. Some of the benefits of being in a lease means you can't be asked to vacate unless you have violated the lease in some way and your rent on the location can't be increased. The more common lengths for leases are one to two years. However, if you know for a fact that you are going to want to stay in that location for many years, then you can try to request an even loner term. It will be up to the owner to decide whether or not they want to get into a longer lease with you. They will also get to enjoy benefits of having a longer lease, such as not needing to worry about finding themselves looking for new tenants in just a year or two.
2 – Make sure you can agree to everything in the lease: If there is something in the lease that is really bothering you, then you should see about having it changed by compromising, so everyone involved will be satisfied with the agreement that you are getting into. For example, if the lease states that you are responsible for pest control, but you feel this isn't fair because there are already signs that there were pest issues in the past, then you can try to have this part removed from the lease. Also, consider making sure there is a clause in the lease that would allow you to sublet it to a credit worthy party. This way, if anything does go wrong with your business, you will be able to get out from the rent for the remainder of the lease by getting someone in to take your place.
3 – Make sure parking information is included in the lease: You want it to be very clear as to where your employees and customers will be allowed to park. This can prevent future issues that can become quite messy when you find you are told that some of your parking space can't be used any longer.
4 – Be clear on what changes you can make to the property: When you are leasing a business space, you need to have a certain amount of freedom to transform it into a space that will work for your needs. You want to think through all of the definite changes you know you will need to make and have them approved right in the lease.