How to make your commercial lease work for your small business

How to make your commercial lease work for your small business

North Carolina business owners face varying challenges when trying to start and operate a successful small business. One of the most significant challenges includes finding a space to run the business with affordable rent and enough space for operational needs. Upon finding an appropriate space, it can be important to negotiate a fair lease before signing.

If you are considering leasing a commercial space for your business, you may not know you have the right to negotiate the terms of your lease. These are legally binding agreements, and it can be crucial for you to pursue fair and reasonable terms that allow for your long-term success. You do not have to negotiate these terms on your own, but instead, you can seek help for this important step.

What should be in your agreement?

When negotiating a lease, it is important to think about long-term goals and how your choices can impact the future of your business. You are entitled to terms that are not only reasonable, but also allow you to do what you need to do with the space in order to accommodate the needs of your growing company. Make sure you consider the following factors when negotiating a lease:

  • What will rent be, and will the landlord have the ability to raise rent after a certain amount of time?
  • How long is the lease, and will you have the option to renew?
  • What happens if you need to break the lease early?
  • Which party is financially responsible for repairs needed in the building?
  • Will you have the right to remodel or make improvements in the space?

These are just a few of the things you would be wise to consider as you work for a lease agreement that will work well for your company. You do not have to sign on the bottom line with no questions asked, but you can seek specific terms that are necessary for your continued success.

Why do you need guidance?

As with any type legal contract, a lease agreement is binding and can have an impact on your company for years to come. It is smart to think carefully before you sign, read over terms and ensure that you are not agreeing to something that is actually harmful to your company.

If you need to negotiate a lease or address other commercial real estate concerns, having experienced guidance can help you avoid complications and pursue a beneficial outcome.

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