As an entrepreneur, you understand how important it is for you to find the right building for your business. Besides location, you need a property that is in good condition. As you shop for commercial properties in the San Juan Capistrano area, you should take into consideration the leasing requirements each property has. All commercial leases are not the same. If you are not careful, you could end up with a lease that puts you at a big disadvantage.
It is vital for you to carefully review every lease contract offered. Look past the amount of rent you will pay every month. Instead, think about your business goals and how a commercial lease could impact them. Take some time to review the following mistakes people make with commercial leases so you can avoid them:
Commercial leases are often specific. Sometimes property owners do not disclose potential hazards that may affect your business in them. It is up to you to check the property carefully for potential issues. Make sure all hazards are identified in the lease and there is a detailed process for handling them so you are not left footing the bill for something that should be the property owner’s responsibility.
Not understanding the lease
Commercial leases are full of terms that some small business owners and new entrepreneurs may not be too familiar with. They do not take the time to read them all the way through before signing. Signing a lease without knowing all its requirements can prove disastrous because they are not usually written with the lessee in mind. They may not be up-to-date, worded to benefit the property owner, place unrealistic demands on the lessee and full of risks that could cause you to lose your business. Read the entire commercial lease and double check the dispute resolution details. Consider hiring an attorney to review them and point out areas that may pose a conflict of interest and help you to negotiate better terms.
It is in your best interest to negotiate before entering into any commercial lease for better terms. To increase your negotiating power and better protect your company, make sure you understand every aspect of a commercial lease and get a second and professional opinion before signing.