Signing a commercial lease is not a decision that should be made in a rush. One of the largest costs for many business owners is commercial real estate rental. As is the case with most contracts, a business owner who enters a commercial lease contract without considering all of the available options might end up signing a deal from which there is no easy way out. If you are a business owner about to sign a commercial lease, consider the following four factors, and always consult with an experienced business attorney first.
Read the Lease Carefully
While it might seem like an obvious piece of advice, it is absolutely critical to read through a lease agreement to fully understand all of the terms involved. You should make sure to understand all the final points of the lease, the responsibilities of each involved party, and what happens if certain potential events occur. There are often potential events contemplated in a lease that could have a substantial effect on how your company is operated. As a result, it is vital to make sure that you agree to each and everyone of these terms before signing a lease. If you happen to disagree with any lease term, you should either negotiate for an agreeable term or find another commercial unit that is much more agreeable.
Negotiate the Terms of Your Lease
Even though a landlord has likely provided you with the same lease that is offered to other tenants, it is still possible to negotiate on some of the terms of the lease if you find them particularly disagreeable. By listing any of the provisions with which you disagree, you might create an opportunity to reach a more agreeable relationship with your landlord. Of course if a space is particularly attractive to other tenants or if you are renting substantially less space than other tenants, it might not be possible to negotiate the terms of your lease. Your business attorney can help you negotiate the best possible commercial lease agreement with your potential landlord.
Make Sure Your Business Structure Exists
It is essential to make certain that your business’s structure is in place before you sign a lease. Deciding on a business entity after entering into a lease is likely to make things much more complicated and can cause much more substantial problems for your business down the road.
Get Legal Advice Before Entering Into a Lease
It is often best to speak with an attorney before signing a lease. An experienced business attorney can make sure that you save time and money when entering into a contract. A knowledgeable attorney can help discuss your various business goals to make sure that commercial lease contract actually reflects your best interests.
Speak with an Experienced Business Law Attorney
First time business owners are faced with a number of daunting obstacles. One of the largest and most serious challenges for many business owners concerns signing a commercial lease. If you need the assistance of an experienced corporate law attorney, contact Resnick Law today to schedule an initial consultation.