Your Florida business is growing, and you are finally ready to find your own building or lease more space so you can continue to expand and serve more customers. Finding the right type of space for your company is not easy, especially finding one that meets your needs while still fitting your budget. When you finally find the right storefront, it can be tempting to simply jump on it and sign the lease as fast as possible.
What you may not know, however, is that you can probably negotiate with your landlord on the terms of your commercial lease. Before you sign on the dotted line, it may be helpful to consider whether negotiating certain terms could be beneficial for your company. You may want to familiarize yourself with certain terms and things to look for in order to ensure you are not exposing your company to unnecessary risks in the future.
What’s in your lease?
It is prudent to carefully review a lease before you sign it, look for things that may cause you trouble in the future and work to secure terms that are fair and sustainable for your business needs and objectives. Some of the things you may want to clarify in the terms of your commercial lease include the following:
- How long the lease is good for, options for renewal and what happens if you terminate the lease early
- Rent amounts, potential rent increases in the future and what is included for you as the tenant with your rent
- Which party is responsible for improvements needed in the space and what changes you can make to better suit the needs of your company
The terms of a commercial lease can impact how your business operates for years to come. It is in your interests to pursue a final lease agreement that is mutually satisfactory to both parties and does not leave you facing unnecessary risks in the future.
The right advice for your business
When you sign a commercial lease, your business interests are on the line. It may not seem like a big deal, but a bad or unfair lease can cost you time and money in the future, as well as undue amounts of stress. If you are considering leasing space for your business, it can be smart to speak with an experienced legal professional who can provide you with the right advice for your small business.