Commercial Lease Agreements 101
Negotiating a commercial lease is nothing like a residential lease for an apartment. Commercial leases come with a wide variety of types and options, so it’s important to understand which type of lease is best for your business and the space, as well as understanding key terms that impact your negotiation. When you’re negotiating a commercial lease, it’s important to know:
Types of Leases
There are many types of commercial leases that cover a wide variety of scenarios. Leases usually fall into a specific “type” because of the way in which the lease breaks down who is responsible for which costs associated with operating the property. Lease types range from Single Net Leases to Industrial Gross Leases and even Full Service Leases. It’s important to understand who is responsible for what when you’re negotiating a commercial lease.
Understanding Key Vocabulary
There are some key vocabulary terms when it comes to negotiating a commercial lease, and it’s important to understand what they mean and how they impact your negotiation. When negotiating a commercial lease, pay close attention to:
If you don’t understand any of these terms, or how they impact your commercial lease negotiation, it’s a good idea to enlist the aid of an experienced business attorney.
Ultimately, you must make sure the lease will fit your business, and that the space will accommodate your needs. Make sure the critical lease terms are terms you can comply with, and that you’ve negotiated a favorable commercial lease that will serve you well for years to come.
If you need help with any of the above issues then please call The Posey Law Firm, PC by dialing toll free 1-888-269-1962.