Before you sign that commercial lease there are 5 things business owners should do.
Business owners should look into all of the following before entering into a commercial lease for an office or retail location.
- Review the commercial lease carefully.
- Have a trusted attorney review the commercial lease agreement.
- Have you attorney clarify any section and guaranty clause that your unclear about. The contract will be full of legalese and if this is the first time you're entering into a commercial lease make sure you understand the contract fully.
- Find out if there are hidden fees.
- Do you want to add any provisions to the agreement? Propose changes that are in your best interest. You may be locked into the agreement for years, so think ahead for the future.
Don't sign anything you don't understand! Real estate brokers can be pushy and intimidating. Don't let them rush you into signing anything before you have the lease agreement checked over by your attorney. You won't know if the contract is poorly drafter or if it was created with to hide costs from the lessee unless you have legal counsel review it. Spend the time to find a trusted attorney who has your best interests in mind.