Wet Pluto

Leasing a commercial space instead of committing to owning real estate can be an excellent move, though there are very few tenant-friendly laws and even fewer standard lease agreements. The best help can be sought from a lawyer, who will help negotiate the best deal for you on a commercial lease.

There are a number of steps involved in the process of commercial leasing. These include an assessment of your requirements, locating suitable property, lease proposals, space planning and architectural evaluation, analyzing responses, and negotiating the lease contract.

Ideally, a commercial lease should be in writing and include many details. These include the agreement on rent and increases depending on the rate for the space in the neighborhood, the duration of time, conditions for renewal of the lease, whether the rent includes utilities such as water, phone, and electricity, a description of the space you will be renting, and assurances that your space is zoned appropriately for your type of business.

When it comes time to renegotiate your commercial lease, you will want to document your reasons for a lower rent or space improvements with facts regarding lower foot traffic than represented, or a downturn in your industry. Some landlords may even be willing to take a percentage of your sales instead of a flat rental fee when economic times are slow.

As a tenant, you will have far more flexibility when negotiating a commercial lease, which is one reason why having your own representation during negotiations is important. Your lawyer can also research on zoning laws and local ordinances, and advise you on local real estate market circumstances and customs.

So be safe, and take all precautionary methods to ensure a comprehensible and concise commercial lease before proceeding to lease a property. If you need additional help, do not be afraid to consult a lawyer.