Commercial real estate is expensive, and it is not always easy for a Florida business to find property that suits its needs well. After locating the ideal property, it may be tempting to move forward quickly by just signing the lease as soon as possible, but this is not always beneficial. After a careful review of the proposed lease agreement, it is often beneficial for both parties for a business to negotiate a fair commercial lease with a landlord.
What should be in the lease?
It is possible to negotiate terms that are fair and reasonable, minimizing the chance of confusion or complex disputes in the future. While every commercial lease can be custom-tailored to the needs of the individual business, some of the most important things to include are:
- Details of rent and potential rent increases in the future
- What is covered by rent, such as utilities
- Financial responsibility for repairs and remodeling needs
- The term of the lease and potential for renewing the lease
A carefully negotiated lease can protect the interests of both parties. A Florida business would be wise to think long-term when considering terms for its commercial lease.
Assistance is crucial
When a business is negotiating a commercial lease with the landlord or property manager, it is typically helpful to work with an experienced attorney during this process. This can ensure the lease contains all necessary terms to protect both parties. An assessment of the individual case can determine how a business should proceed in negotiations.