Property owners should never take a commercial lease for granted. It is the contract that binds the property owner and the tenant. Even a single ambiguity in a contract can result in lawsuits or irritate. Below are some of the aspects you need to negotiate before you sign a commercial lease.
Previously, property owners could strive to provide long leases to tenants as a way of minimizing vacancies. However, tenants now prefer long rentals as they can serve as a hedge against inflation. Commercial contracts usually run from 3 to 10 years, but you can negotiate the terms with the property owner. Your lease should state what happens if disagreements arise in the future and rent adjustments that your landlord might make. Be wary of an agreement that allows the property owner to provide an alternative building or space if either party breaches the terms of the contract.
Payable … Read the restRead more