Mellor & Backo LLP

Dedicated To Your Success Since 1975

What should be in your commercial lease?

| Feb 11, 2020 | Firm News

When you own a business, one of the most important aspects is deciding where you want to open up shop. Commercial space can be difficult to find and expensive to lease in Florida, so it’s tempting to jump on it as soon as possible when you find what you are looking for. However, you will want to be cautious before you sign on the bottom line for several reasons.

It could be in your interests to negotiate the terms of your commercial lease. Your landlord may give you a lease already drafted, but the terms included may not meet your needs or objectives. A careful review of the contract is prudent, or you may ask for specific things before signing. The more thorough your contract is, the less likely it will be that you face complications over your lease in the future.

What should be in there?

There is no one-size-fits-all commercial lease agreement. Every business has specific needs, and this is one of the most important reasons why negotiating a lease can be helpful. Whether you are drafting a lease agreement or you are reviewing the terms of a lease, you may want to make sure to clarify and explain the following terms:

  • Length of the lease – Your lease agreement should include terms that clearly explain how long your lease is valid. You may also want to include terms that explain how it will work when you want to renew or if you need to break the lease early.
  • Rent prices – Any lease agreement should spell out how much rent will be, whether the landlord will raise the rent at some point and exactly what the rent includes.
  • Changes to the space – A lease should also explain which party is responsible for any changes needed in the space. This includes remodeling, fixing problems, handling emergency repairs and more.

You can also include terms that allow you to address needs that are specific to your business. Before you sign, make sure you are not exposing yourself to risks and complications down the road.

Protect your company.

Protecting the interests of your business is the primary goal when negotiating a lease for commercial space. If you are thinking about finding a storefront for your company or you are unsure of where to begin with negotiating a lease, it can be helpful to seek experienced guidance first. Working with a Florida real estate law attorney during this process can reduce your chance of setbacks and other issues.