Finding commercial property that makes sense for your Florida small business is not an easy task. Commercial space not only has to fit the operational needs of your company, it also had to fit your budget. Even in your haste to move forward once you find the ideal property, it is in your interests to make sure that your commercial lease is fair and reasonable.
Commercial leases are negotiable. This means that you probably have the ability to work with the landlord to make sure the terms of the contract suit the needs of your business and do not expose you to unnecessary risk. Before you sign a contract, it’s prudent to carefully review it and make sure that you are not agreeing to something that could cause problems down the road.
What’s in your contract?
Before you negotiate a commercial lease, it will be beneficial for you to learn about the terms that will be important for your contract. Each business is different, and you can work to custom-tailor the terms of your agreement to work with your business goals and the daily needs of your operations. Some of the terms that are important in commercial leases include:
- Rent — You will want to include terms that are very specific regarding your rent. This includes provisions for rent increases in the future, how much the rent amount will be and when rent is due each month.
- Lease terms — It’s important for your lease to be as specific as possible. This includes the length of the lease, what rent includes, what happens if you terminate the lease early and more.
- Building use — The lease should include provisions that outline which party is responsible for things like repairs, remodeling and other things pertaining to the use of the building.
The terms of your lease will impact your business for years to come, and moving cautiously can help you avoid complications and potential disputes with your landlord down the road.
Protect your company
When you are negotiating a lease for your business, you want terms that protect your short-term interests and allow you to have a strong future. With the interests of your company on the line, you can see how it can be helpful to work with an experienced real estate attorney as you negotiate your lease and pursue a final agreement that is satisfactory to both parties.