A commercial tenant may spend a significant amount of time locating the perfect place to do business. The way the market here in Orange County and elsewhere in the country appears to be at this time, a prospective tenant may be able to negotiate more favorable terms when it comes to the lease. In fact, a landlord may agree to throw in some free perks as well.
Securing the right rental space here in Orange County can be a challenge. After what may be an exhaustive search, a commercial tenant must then begin the arduous and often unfamiliar process of negotiating the terms of a lease. More than likely, the landlord has done this numerous times, and probably already has built a library of forms for nearly every situation.
No matter how much planning you do, something could go wrong. For this reason, part of your business planning involves purchasing insurance policies to cover different eventualities that could occur during the course of your business. As a commercial tenant, your Orange County landlord will more than likely expect you to include liability insurance in those policies.
Unless you intend to purchase property for your new business here in Orange County, you will need to sign a lease for the space you need. Like any other commercial tenant, your lease will more than likely be about much more than just the rent and term of the lease. Below are three issues you may want to watch for when negotiating your lease.
Landlords here in Orange County enter into lease agreements expecting each party to fulfill the terms of those contracts. When a commercial tenant attempts to walk away from the lease without paying, the landlord may need to take that tenant to court. This is what happened when Starbucks broke numerous leases for its Teavana stores across the country.
Owning an Orange County business often comes with plenty of satisfaction, but it also comes with plenty of responsibility. One of those responsibilities is to take reasonable measures to keep the premises safe for those who frequent the business, but accidents do happen. Whether you are the landlord or the commercial tenant, dealing with premises liability issues can be tricky.
Mold has become a big topic of conversation in the media here in California and elsewhere in recent years. While most of the press covered household toxic mold issues, commercial buildings are just as susceptible. As a commercial tenant, you may wonder whether you or your landlord pay for the damage the mold has done.
It is a good time to be a landlord in Orange County. The area has seen the highest increase in commercial tenant growth in the United States. In the last two years, the rental market has increased by a staggering 23 percent. Rents have gone up as well.
Many businesses here in Orange County rent the space in which they conduct their business. As a commercial tenant, many of them are presented with boiler plate lease documents that more than likely favor the landlord. What they need to know is that they can negotiate better terms.
Malls are not dead. Despite the fact many California malls now contain dark and empty retail space where thriving department stores used to be, experts say mall managers are seeking a different kind of commercial tenant to fill the vacant spaces. While tenants like Sears, J.C. Penney and Saks Fifth Avenue traditionally held the position of anchor stores, those spaces may now house more exciting offerings.