If you are a business owner and you are trying to secure commercial real estate, you will need to successfully negotiate a commercial real estate lease. Doing so wisely is crucial for the future of your business. Unfortunately, many businesses make the mistake of signing a commercial real estate lease without fully evaluating the terms. This can lead to costly problems in the future.
It’s important that you pay special attention to the type of lease that you will be subject to and that you consider the length of the contract as well as the flexibility of the terms. If you are a growing business, you don’t want to be locked into a space that will limit your potential.
Should I choose a short-term lease?
If this is your first rental as a business, you may want to decide to start with a short-term lease. You might find that you add employees at a higher rate than you first expected, or that a slow start means that your cash flow is suffering because of the rental price. If you are a larger business that understands its future prospective growth, you may want to choose a long-term lease that is wisely negotiated.
Is a full-service lease the best choice for my business?
This is one of the most common choices for offices. It means that all costs are taken care of, including taxes and insurance.
If you are unsure of what choices to make regarding your commercial real estate lease, it is important to conduct thorough research. It’s also wise to consult an experienced attorney.