Finding a commercial property that meets the needs of a Texas business can be difficult. After locating a property that is both suitable for the operational requirements of a company and within the appropriate budget, it is tempting to move forward with the transaction as soon as possible. However, it is prudent to carefully look over the terms of the order before signing any type of commercial lease.
Specific matters to consider
The terms of a commercial lease have the potential to affect a business for years to come. Instead of blindly agreeing to terms for the sake of expediency, it is prudent to have a review of the specific details to which a business is agreeing. Certain terms should be in every commercial lease agreement, including the following:
- Details regarding the rent amount, potential rent increases and more
- Responsibility for repairs and improvement to the space
- Details regarding early termination of the lease and lease renewal
- Specific instructions regarding the permitted use of the property
- Compliance with the Americans with Disabilities Act
- Details regarding what is included in the lease, such as utilities
The more detailed a commercial lease agreement, the less likely it will be that the property owner and tenant find themselves in a dispute over the terms of the contract.
Experienced guidance is key
Signing a commercial lease agreement is a critical legal and financial step. Texas business owners will benefit from having a complete understanding of what is included in the lease and how they can negotiate specific and important terms. It may be helpful to speak with an experienced attorney before signing a contract.