If you own a business, you understand how difficult it can be to locate the right commercial property for your company. It can be tempting to sign a contract and move forward as quickly as possible once you find the right property within your budget. Whether you are looking for a storefront, warehouse, office space or other type of building from which to run your business, you will benefit from considering what you can do to protect your interests as you sign a lease agreement.
Many commercial landlords have standard lease agreements they present to their potential tenants. However, you may find it necessary for the specific needs and interests of your company to negotiate the terms of any agreement before you sign. Before you agree to a commercial lease, it is prudent to ensure you are not inadvertently exposing your business to the risk of financial loss or other types of complications.
The details matter
The details of a commercial lease matter as they have the ability to impact your business long-term. Without a careful review of the fine print, you could be taking the chance that your company will face limitations, unexpected expenses and other complications in the future. Important details in a commercial lease include:
- Rent and fees — Your agreement should outline items included with the rent, which party is responsible for upkeep of the building, duration of the lease and more.
- Additional expenses — The terms of a lease should be clear regarding expenses related to utilities, necessary repairs, insurance, maintenance and more.
- Use of property — A commercial lease should be clear regarding whether the tenant will have exclusive or permitted use of the property.
The terms of your commercial lease matter. They can affect how you use the property and how you can effectively compete with other businesses. The more details included in a commercial lease, the less likely it will be that you experience complications going forward.
Protecting your business
If you are exploring the option of leasing a commercial property in Florida, you will benefit from seeking experienced guidance as you review or negotiate the terms of the lease agreement. Doing your due diligence will shield your company from unnecessary complications and setbacks as you occupy the space. A careful review of the contract will reveal if adjustments or additions are necessary before you sign the lease contract.