Are you getting ready to lease property for your business? There are a few things you should do before you sign.
While professional advice is a must, you should at least be aware of some of the key issues. To start, be sure the lease clearly states what the lease payment covers. Are utilities such as electricity, phone and water included? Will the landlord pay for regular janitorial services or any ongoing maintenance? Will you be expected to pay a share of the property taxes or insurance on the property? If these items are not built in, ask for a year’s worth of payment data so you’ll have a good idea of how much extra you would pay each month.
The lease should also indicate whether a deposit is required and requirements to get a deposit back when you vacate; the length of the lease; whether and when price increases can be imposed; when you and/or the landlord can terminate the lease and for what reasons; your options to renew; and ability to sublease.
Also look for a detailed description of the property. It should be more than just square footage; it should include available parking, other amenities, the physical condition of the property and improvements to be made before you move in.
Photo by Victor1558