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Factors to consider for your commercial lease

If you own a business in New York, you know first hand the difficulty of finding a commercial space that will work for your business without breaking the bank. When you find a place that is both good for your operations and affordable, you may be anxious to sign the lease and move in. However, there are various important factors to consider when negotiating your commercial lease. 

The terms of many commercial leases are actually negotiable. Before you sign, carefully review your contract and take steps you ensure your contract is fair and reasonable. If you are able to negotiate, there are certain things you would be wise to remember in order to secure the protection of your interests.

What should be in your lease?

It is possible to strive for a commercial lease that suits the specific needs of your company. Your landlord may not have your best interests in mind, and it is smart to seek an agreement that does not expose you to financial risk or the potential for issues in the future. Consider the following factors when negotiating your commercial lease:

  • The price of rent, and the possibility of rent increases over the term of the lease
  • The length of the lease, penalties for breaking the lease early and procedures for renewal
  • What improvements need to be made in the space and which party is responsible for the cost
  • Subleasing, issues with the property and other factors that may apply to your situation 

It is always prudent to negotiate the terms of a lease, when possible, and many business owners find it beneficial to have help as they work for a positive outcome. A commercial lease is an important contract that could directly affect the well-being of your business, and you would be wise to be thorough and cautious as you move forward.

Protecting the future of your business

Negotiating the terms of your commercial lease is a smart business strategy. Before you sign on the dotted line, it can be beneficial to seek a complete evaluation of your case. This can help you understand your options and how you can protect your interests. 

Commercial real estate matters can be complex, but you do not have to face them alone. Regardless of the type of business you own or the type of space you are renting, you can seek appropriate guidance in order to avoid mistakes and complications in the leasing process.

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