Florida small businesses must do everything possible to protect their legal and financial interests. This is especially true during a real estate transaction, such as when negotiating a commercial lease. The terms of a lease agreement have the potential to impact a business long-term, which is why it is important ensure that the contract is fair and reasonably sustainable for both sides.
Small details are important
Even the smallest details of a commercial lease agreement matter. While commercial property owners often have pre-made lease agreements, it is still important for a potential tenant to ensure terms have been included that clearly explain the rights and responsibilities of both parties. Examples of what should be in a commercial lease include:
- Rent amount and the potential for rent increases in the future
- Length of the lease and options for renewal
- Which party is responsible for improvements to the property
- What is included in the lease, such as utilities
- How the property meets the requirements of the Americans with Disabilities Act
Each business is different, and will have specific and unique needs according to its type of operations. It is appropriate to seek terms that will suit the small business for months or years to come.
Experienced guidance for negotiations
It is helpful for a Florida small business to have experienced guidance when negotiating the terms of a commercial lease. Working with a real estate attorney can provide a company with the opportunity to seek terms that will allow for stability and security for the small business. The terms of this type of agreement matter, and it’s prudent to think about the potential long-term provisions of the contract.