What information should I disclose as a commercial tenant?

| Apr 25, 2019 | Commercial Real Estate Leases |

If you are a business owner and you want to rent out a property for commercial purposes, you will need to negotiate a commercial lease. Commercial leases tend to be more complex than residential leases because there is more to consider.

You may be hesitant to provide too much information to your future landlord, however. It is right to be cautious, but providing adequate information about your business situation can help you successfully negotiate a lease in your favor. The following is some information that you should consider sharing.

Your business experience

The longer you have been in business, the more expertise you will have. You can use this to your advantage when negotiating a lease. It is likely that the landlord would be more comfortable renting to an experienced business person and may consequently offer a more lucrative rent.

The nature of your business

The nature of your business is important because it will determine the suitability of the property to your needs. It will also help the landlord trust you. If your business works with hazardous materials, it is important to address this so that those can be safely maintained on the property.

The structure of your business

The status of your personal liability to the company should inform how you make rental decisions. In addition, you should notify the landlord if you are a tax-exempt organization.

If you are attempting to negotiate a commercial real estate lease in Florida, you should make sure that the terms are written to your advantage. Unfortunately, many tenants suffer as a result of signing leases that are inflexible and unreasonable. Have an attorney review your lease before signing it so he or she can identify any potential problems with it.