Before you sign a commercial lease, it's in your best interests to make sure you ask questions and verify what it contains. While many people sign leases under the impression that they know what's inside, that's not always the reality.
Here are four things you should do to protect yourself when you sign a commercial lease and enter a leasing agreement. They could help you avoid trouble with your landlord or give you a better understanding of the lease you're signing.
1. Read the lease
Maybe you talked to the landlord about paying less for rent than initially requested or wanted certain utilities included in your fees. Whatever the changes were, it's important to read the lease and make sure they're there in writing. Make sure the leasing dates and terms you negotiated for are all in the lease.
2. Make sure you understand the lease terminology
It's necessary to make sure you understand all the terms used in your lease. You don't want to find out later that you misread or misunderstood certain terms in the agreement.
3. Consider options for subleasing
Another thing to look into is the flexibility of the lease. Can you sublease the facility if you decide to sell your business or need to get out of the contract? This is something to discuss with your landlord prior to agreeing to the terms of the lease.
4. Get your attorney on board
Finally, get your attorney on board. Your attorney knows the law and can catch any parts of a contract that are unfair or that don't make sense, which could help you avoid issues in the future.
These are four things to think about before you sign a commercial lease. Taking the time to understand your lease is a vital step toward a good landlord-tenant relationship.