Drafting a commercial lease is an important step for many Texas businesses, but it is beneficial to proceed through this process with caution. Signing a lease without negotiating the terms or carefully reviewing it can lead to financial complications in your future. Before you move forward with any decision, take steps to ensure you are not exposing yourself to potential financial losses and other avoidable issues in the future.
You may not know that many commercial leases are negotiable. Because of the nature of commercial real estate, it is actually in the interests of the property owner to be willing to work with the tenant on the terms of the lease. You may find it beneficial to seek guidance as you pursue terms that will work well for your company and your business operations.
What should you know?
As you search for the right commercial property or work on negotiating the terms of your lease, it may be helpful to address the following issues for a contract that will allow for your business' continued growth and future success:
- Rent – How much will rent be, and will there be increases in rent payments in the future? It is important to answer these questions, as well as include terms that spell out exactly what rent includes.
- Length of lease – Every lease should be clear on how long the lease is valid, options for renewal in the future and what will happen if the tenant terminates the lease early.
- Changes to the building – If you need to change the space to suit the needs of your company or repairs need to be made, it is beneficial to outline which party is financially responsible for these expenses.
These are just a few of the things you may need to include in your commercial lease. It is smart to pursue terms that suit the unique needs of your business and allow you to meet the needs of your customers or clients.
Help for your real estate concerns
When it comes to the financial and legal well-being of your business, it is prudent to seek guidance when making important decisions. The terms of your lease will impact your company for months or years, and you may find great benefit in working with an experienced Texas real estate lawyer during negotiations, contract drafting and dispute resolution.