Owning property is an essential part of the American dream, and running one’s own business is a dream for many Americans as well. It is difficult to do both at once, so many business owners opt to lease a property that suits their needs.
Several factors make a commercial property lease a better deal than other real estate leases, and business operators should know what to look out for and how to negotiate with property owners. Florida law makes certain conditions required for a valid lease.
Why is a lease important?
Lease documents make it legal for a business to occupy a rented property. They protect the landlord and the tenant from misunderstandings or other problems that could lead to real estate litigation.
What is the standard agreement for commercial real estate lease?
There is no standard agreement; negotiations are often expected. Rent rates, increases and options to renew are all up to the landlord and tenant to work out. The alternative is to fail to specify important terms.
What is usually included in a lease?
Sometimes, a lease only allows a person to use a property. This is usually called a net lease. A gross lease makes the landlord responsible for insurance, taxes, utilities and repairs on a property as long as the lessee covers the agreed rent.
A lawyer can help landlords or tenants navigate writing a lease for a commercial property. In the case of required real estate litigation, an attorney can represent interests and uncover possible solutions that may not be available to others.