Starting a Business

Securing Space for Your Business

Many entrepreneurs lease commercial space to house their business. As you negotiate a commercial lease for your business, be sure to examine all the sections of the documents thoroughly and ask questions to determine that the agreement you are entering into will serve your needs. You may decide to hire a commercial real estate lawyer to help you negotiate the best commercial lease for your business space.

Before you sign, investigate expenses you are responsible for above and beyond your rent, such as utilities, repairs, maintenance, etc. Also, determine how much flexibility and protection the lease affords you. Some leases allow you to sublet to another business or prevent the landlord from leasing nearby space to one of your competitors, for example.

Finally, find out what procedures the lease outlines if either the tenant or the landlord defaults on the agreement.

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