What to Look For in a Commercial Lease Agreement
Among the most important decisions you will have to make as a business owner is where you will set up shop. Usually, you will have a variety of different options when it comes to commercial spaces in your area. Once you have found the right commercial workspace, you will need to speak with the owner about leasing it. Making sure the lease agreement in question is in order and fair is no easy feat without the assistance of a real estate lawyer in Minnesota. The following are some of the things to look for when trying to ensure a commercial lease is the right fit for your business.
Looking for the Commercial Lease Essentials
When looking over a commercial lease, there are a few essential things you need to find. If you are unable to find them, you need to talk with a real estate lawyer in Minnesota to find out what you need to do. The first thing you need to look for is the base rent amount and the date it is due. Next, you will need to check to see how long the lease is for. The last thing you want is to be locked into a lengthy lease due to the strain it could put on the growth of your business. You should also check to see if there is an exit clause and what it exactly entails.
Pouring Over the Details
The strenuous details of a commercial lease agreement can be very problematic if they are not read over thoroughly. With the assistance of a real estate lawyer in Minnesota, you will have no problem pinpointing details in a contract that may prove to be problematic later. Finding out things like whether or not you need to carry insurance on the building and what type of signage is allowed is very important. Neglecting to check for these details can cause a lot of problems for you and your company.