What You Need To Keep in Mind When Negotiating a Commercial Lease as a Tenant

//What You Need To Keep in Mind When Negotiating a Commercial Lease as a Tenant

What You Need To Keep in Mind When Negotiating a Commercial Lease as a Tenant

Leasing a space can become costly. But, it’s an expense that has to be covered. However, that doesn’t mean you can’t get favorable terms. Have you local Tampa lawyer look over a proposed leasing agreement to see if you can gain favor in this deal. It could be worth it having your Tampa lawyer involved. Take a look at some tips for tenants entering into negotiations.

Lease Length
It’s best to have a long term plan when going into negotiations. Brainstorm with your local Tampa lawyer on what’s best for your business. Startup companies tend to search for shorter leases because of the nature of their structure. But they may want to extend their lease once they become more established. On the other hand, already established businesses probably want a long term lease. They may be favored since they offer a long lasting revenue stream to the landlord.

Notices
The landlord has rights when dealing with defaulting tenants. They have a number of things they can use in the event of a tenant defaulting. This could include anything from terminating a lease to enforcement clause costs. Therefore, it would be wise to push for grace periods and written notices to be sent before the landlord takes action. This allows the tenant some time to remedy the situation.

Rental Structures
When negotiating a lease, you should find out what additional rent you could be liable for. A triple net lease is an agreement where the tenant pays the taxes, insurance, and maintenance fees on the property. Take these costs into account when negotiating. It’s important that you plan for the future so that these costs don’t come up unexpectedly once you have the lease.

Improvements
When you are negotiating lease terms don’t forget to include tenant improvements. This also includes negotiating what portion of the costs will be covered between the tenant and landlord. Again, it is also very important to be absolutely clear on costs and requirements. Work with your lawyer to iron out all the details. Don’t forget to make sure you are covered at the end of the lease too. The last thing you would want is the landlord requiring you to restore the property to what it looked like prior to its improvements.   

Check out our blog for more tips and info. Contact Fresh Legal Perspective today by calling (813) 448-1042 and ask about meeting one of our lawyers!

 

By |2018-04-20T23:09:10+00:00December 29th, 2017|Blog|0 Comments

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