What a commercial lease should include

On Behalf of | Jul 29, 2020 | Criminal Defense, Real Estate |

For some companies, it may be better to rent commercial space as opposed to purchasing a warehouse or office building. As a general rule, there is no such thing as a standard commercial lease. Therefore, business owners will have significant leeway to negotiate terms that best meet their current and future needs. However, there are certain provisions that should be included in any commercial lease a business agrees to.

For example, it should specify how much rent is due each month and what a tenant gets for his or her money. In some cases, a landlord may include the cost of electricity, water or phone service in the monthly rent payment. A lease document should specify when the agreement begins and ends, and it should also specify how the agreement can be terminated by either party.

Tenants may be able to negotiate the right to sublet or reassign a leased space to another party. Having the ability to reassign or sublet a building may make it easier to move to another location if the need arises. Before signing a lease, it is important to find out if a building meets zoning requirements. If the person signing the lease doesn’t trust the landlord’s answer, that individual can ask local authorities for more information.

Those who are looking to rent commercial real estate may want to have an attorney review a lease agreement before it goes into effect. An attorney may be able to determine if a rental contract is valid and whether the terms meet a business owner’s needs. If necessary, an attorney may make changes to a lease agreement or suggest changes that a potential tenant might want to make. Legal counsel may represent a tenant in court if a dispute arises after a lease is signed.