If you own a small business in Utah, it may become important at some point to expand your operations and find commercial space to lease. Even if you do not own a retail business with customers visiting your property, you still have to put careful consideration into your location.
The terms of a commercial lease could have an important impact on the financial well-being of your business. It is beneficial to think carefully about the terms of your lease, ensuring you protect your current and future financial interests. Many businesses find it helpful to have qualified guidance as they attempt to negotiate a lease that works for their company.
Important factors for your consideration
Many issues could affect the way you use your commercial space and your financial commitment to lease the building. There is much more to think about besides just finding a good space and signing on the dotted line. Some important issues you may want to think about include the following:
- Potential rent increases in the future
- How long the lease will be valid
- Amount of the rent payments
- Permission and liability for any improvements to the building
- Signs for the building
- Exclusive rights to use the property
- Right to sublet the leased property
A commercial lease is a binding contract, and it is beneficial to carefully review the terms of your lease before you sign. Unlike a residential lease, the terms of your commercial lease are actually negotiable. You can work to secure terms that are beneficial for your business as well as suitable for the type of operation you want to run.
Problems with a lease can lead to complications and extra expenses for your company. Unexpected rent increases and surprising limits to what you can do with the space you need for your business are both frustrating and potentially harmful for your operations.
Act prudently, avoid complications
If you are looking for space to lease for your business, location is not the only factor to consider. When you navigate your business-related real estate concerns with experienced guidance, you can avoid unnecessary delays and issues that could hurt your company.
The terms of your commercial lease matter for the future of your company. Before you sign a contract or move forward with leasing a space, you may find it helpful to take time to learn more about your rights regarding negotiations and other aspects of commercial leases.