A Brief Discussion about Commercial Lease Agreement

Author: Navjeet Kaur
by Navjeet Kaur
Posted: Nov 20, 2014

After finalizing the deals verbally, you will be handed with commercial lease documents. Many people ask, why signing a commercial lease agreement? The answer is that it builds a legal relation between the tenants and the landlord so that there is no legal issue later in the future. Mainly, during commercial lease a landlord agrees to let your business to occupy the space for specific period of time. These types of leases are generally different from residential ones in terms of various factors such as it demands for great negotiability and flexibility when compared to residential areas.

There are many different sections in a lease document. Firstly, the legal names of both the parties that means the tenants and the owners. Secondly, it has complete description of the space assigned along with the rental amount decided. Then it comes to how rent is calculated, including maintenance charges if any. It also describes the term of the lease begin and end so that there is no legal issue during the time of eviction. There are variant other points as well which are added in the document such as money deposited, list of restrictions on the use of premises such as hours it can used or on list of occupancy.

So, it is very important to take a review beforehand, in order to make a smart investment. Listed below are some effective considerations, helps in easy decision making.

Make sure it fits in your business:

Before you sign the contract it is very necessary, that you carefully read all the terms and conditions of the agreement beforehand so that you easily analyze that the space you are opting for meets the requirements or not. In this, you must check the start date, end date, rent escalation and moreover with space they are allocating for your business. This will make sure, what are you getting in to.

Get your business a legal structure:

If you want to stay protected, it is necessary that you verify the space have all the legal documents or not so that you don’t have to face any trouble during your working hours. Understand the need of capital needed in order to run the business successfully therefore, check each and every focal area well in advance such as roof, foundation and other replacements so that you can figure out you can maintain the expenses or not.

It might be possible that you are not aware with all the legal laws and regulations of these agreements, so you can also hire agents who are specialized in this field and know how to get profitable deals. All you need to need is most realistic firm who offer you all these services at affordable price range. They can also help you in negotiating with your deals. You can search about them either on internet or in newspapers. Do check their complete details along with customer’s review before hiring any one. Apart from this, they can also make you aware about the terms of termination and penalties for early termination.

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Author: Navjeet Kaur

Navjeet Kaur

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India

Member since: Oct 29, 2013
Total live articles: 905

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