Lease it or leave it: A beginner’s guide to commercial leasing
Leasing commercial property can help your business grow, but it's important to understand the legal implications and protect your interests. If you're thinking about leasing an office building or warehouse for your business, there are a few things you need to know to avoid feeling overwhelmed.
Despite the complex process of commercial leasing, you can ensure a successful experience with proper preparation. Here's some key things to keep in mind to lease it or leave it with confidence.
First things first, let's talk about the lease agreement. This is the legal contract between the landlord and tenant that outlines the terms of the lease, including the rent, length of the lease, and any additional fees or obligations. It's important to review this agreement thoroughly before signing on the dotted line.
Commercial leases often involve more liability for the tenant, such as responsibility for repairs and maintenance. This is the responsibility of the landlord, but it's important to make sure that it's clearly outlined in the lease agreement. You don't want to be stuck with unexpected repair costs down the line. And you should definitely consider obtaining insurance to protect yourself from any unforeseen events that could result in liability.
Failure to comply with zoning, land use or environmental regulations can result in fines or even legal action, so it’s important to check the property is zoned for their intended use and there aren’t any restrictions.
Finally, don't forget to document everything in writing and keep copies of all your lease agreements and correspondence.
And if all of this sounds a bit daunting, don't stress! We can help you navigate the process and make sure you're getting the best deal possible. Contact us to discuss your specific leasing needs.
