Finding the right space from which to run your company is not easy. An affordable commercial building or storefront that meets your needs can be hard to come by, but it is wise not to allow your excitement to cause you to walk into a commercial lease that will ultimately not benefit your business. The terms of your commercial lease will impact your company for years to come, and it is beneficial to be prudent with negotiations.
You have the right to negotiate a fair commercial lease agreement with your landlord. This effort will help you reduce the potential for future conflict. There is no one-size-fits-all lease for commercial property, and you can work with your landlord to come to final terms that are mutually beneficial. Before you sign on the dotted line, take the time to carefully review the contract and negotiate for the interests of your business.
What’s in your lease?
Even the smallest details in your commercial lease can affect how you are able to run your company, and it’s beneficial to pay attention to things that may seem inconsequential. Some of the issues you may want to clarify, expound upon or make sure are in your lease agreement include:
- All details related to rent, including the starting amount, potential increases in the future and frequency of rent increases
- How long the lease will last, how you can renew the lease and penalties for early termination
- Which party is responsible for damage to the property, remodeling and the cost of necessary repairs
- Which party must pay to bring the facility to the accessibility standards set by the Americans with Disability Act.
You may be able to negotiate terms on your own, or you may believe the contract presented to you is acceptable, but it is always smart to be sure. Whether you seek help with the negotiation process or simply want a review before you sign, it is always smart to do whatever it takes to protect your small business and avoid future disputes.
Real estate concerns that affect your business
When real estate matters impact your company, you do not have to face them alone. These issues can affect the financial health of your business, as well as how you can run operations. It is in your interests to have experienced help from the very beginning of your process of finding the right commercial space and negotiating a lease. Before you move ahead, you may want to discuss your goals with an experienced Texas real estate attorney.