Developing a Prime Commercial Lease

Following substantial research and outlining a clear assessment of all of your business needs, you have finally found the ideal commercial office space. Upon interest in leasing a space, you will be presented with a standard lease package, which to fit the specific needs of your company, may need some revising before pen hits the paper and the deal is sealed.

Here are some important points to keep in mind when reviewing your lease and determining if it is the proper fit for your business.

1. The lease should clearly outline the rent amount, when it is due and additional late fees and a security deposit amount if applicable.

2. The office space description should be lucidly stated in the proposed lease including lease period, renewal options and the expiration date.

3.The lease should state which utilities the landlord is responsible for and the tenant. The charges for maintenance and repairs should also be included in the lease along with the available parking and number of reserved spaces.

4. Examine all references in regards to common space access and check for any clauses, which require additional charges for use of common areas

5.  Logically, the terms of the lease should be plainly stated. This applies to vacating the premises as well as moving to a larger or smaller office space should your business require that plan of action.

A commercial lease extends well beyond these points, which are also important to review in depth before providing your John Hancock. If questions arise when looking over the lease agreement, seek advice and allow a professional to guide you in the right direction with your investment.