As a business owner, you understand the importance of finding the right space to run your operations. It is not easy to find the perfect location for your Delaware company, but once you do, you want to ensure that the terms of your commercial lease are beneficial for your business.
In many cases, it is possible to negotiate the terms of a commercial lease. This allows you to fight for certain things that could be beneficial for the unique nature of your company operations, but it can also ensure you do not have to deal with the negative consequences of unfair terms. You always have the right to fight for fair and reasonable lease agreements.
The elements of a good commercial lease
Of course, the first step in the lease process is to carefully review any terms in any lease agreement presented to you by the property owner. After a careful and thorough review, you can seek to change things or add provisions that may be necessary before you sign. Some of the things that could be important for your commercial lease include the following:
- Rent amount and rent increases – You would be certain that your rental agreement carefully outlines how much you owe each month and how potential increases in the future will work.
- Improvements and changes to property – If it is necessary to renovate the space, bring it up to code and make other changes, it is beneficial to ensure that your lease specifically outlines which party is financially responsible for it.
- Length of the lease – Any commercial lease will spell out how long the lease is valid and the terms of renewal in the future. This ensures you do not face unpleasant surprises and can stay in your space for a certain amount of time.
Your commercial lease will impact your business and your finances for a long time. You would be wise to act prudently and thoughtfully as you move forward with signing a commercial lease.
Professional document preparation
As with other types of major real estate transactions, it can be beneficial for you to seek a professional review of all documents or seek professional guidance when drafting lease or purchase agreements. This type of guidance can protect you against negative consequences in case of a dispute between parties or other unexpected circumstances. A good, reasonable commercial lease agreement is simply good for your business and your bottom line.