Commercial leases must be reviewed carefully
On behalf of Kadish & Associates Law Group posted in Commercial Real Estate Transactions on Wednesday, March 27, 2019.
Commercial real estate leases serve a very important purpose. They give companies a viable option to have a public space without having to purchase a building. It is imperative that anyone who is trying to open a business that involves leasing a location take various aspects of the arrangement into account, so they can ensure they are doing what’s best for the company.
One thing to think about is how long you are locked into the lease. If you are just establishing the business, you may want to look for a short-term lease so that you aren’t having to pay for a lease if the income of the company isn’t enough to cover the payments. While it is good to have confidence in your new venture, you should also look at things from a realistic standpoint.
Another point to consider is what upkeep expenses are you responsible for. Are these in addition to the lease or are they included in the monthly payment? How are things divided between tenants if the issue is a building-wide one?
We know that this is a lot to think about. We are here to review the commercial real estate lease with you. This might give you a chance to find points that you missed or that might be interpreted in a manner that you didn’t think about the first time. You may find something that sways your decision about a specific property. We are here to ensure that you are able to protect your business’ interests by finding the property that fits your needs and has terms that you can live with.