Obtaining a commercial lease is an important move for any business that wants to hold property without outright owning it. If you want it to be effective however, then you need to find commercial rental properties that offer a decent lease. Here are five great tips for negotiating a proper lease.

Lease Length

Once the initial paperwork is out of the way you will need to investigate the length of the lease. How long is it? What are the terms? You must make sure you find something that doesn’t tie you down for too long, but you DO need to make sure that you can continue the lease if you find it to be acceptable later on.

Comparisons

You don’t want to settle on one commercial property and stay there for years; you need to look at the costs of the area, and then you want to negotiate a price based on that. In addition to that, you will want to make sure that you are specifying any rent increases so that you won’t run into any surprises later on. If you can, try to establish some kind of cap so that your rates don’t go through the roof.

Hidden Costs

There are two primary types of leases:

  • Gross Lease – All Costs are Included
  • Net Lease – Contains Additional Costs

No matter which of these you end up with, make sure that you do research and negotiate the cost of each items. In addition to that, make sure you find out if your business will be held responsible for systems maintenance. It will take some time, but it is well worth it to make sure that there are no hidden costs with commercial rental properties.

Clauses

Just because you are presented with a lease does not mean you need to follow it to the letter. You can ask for modifications that will provide you with benefits, such as one that keeps the landlord from renting to businesses that are similar to yours, thereby reducing your competition.

Termination

All leases have a termination clause, and you will want to make sure that you review yours. Under what circumstances can it be terminated? What do you need to know? Is there a fee for early termination? All of these items will play a part in your final decision, so don’t take them lightly.

Signing a lease for commercial rental properties is serious business in Scottsdale. With Everyday Investments, we ensure you make the right decision every step of the way.