It can be difficult to locate a commercial property that suits the needs of your business and fits with your operational goals. Once you locate a storefront or building that you believe would be ideal for your Oklahoma company, you will likely be asked to sign a commercial lease. Before you do so, however, you will benefit from seeking an understanding of exactly what should be in your commercial lease and how you can protect your interests in this type of contract.
The terms of your commercial lease matter. If you agree to terms without careful consideration, you could be exposing yourself to complications that may result in financial loss and more. Before moving forward or making any decisions that could impact the future of your business, it is critical to carefully consider all terms and details. Research is key before signing a commercial lease for any type of business.
Researching before you make a decision
As you consider your options for a commercial property, it is important to first do sufficient research. For example, you will need to know if the property is in a good location. You will also need to know about the zoning laws that could impact how you could use the property, as well as local nuisance laws, environmental regulations and more. The terms of your commercial lease should include details that pertain to the following:
- Rent amount and potential rent increases
- Length of the lease and penalties for early termination
- Which party is responsible for improvements made to the space
- Whether utilities are included in the rent
- Amount of the deposit and whether an additional security deposit is required
- Option for subleasing
These terms and others could be critical for how you can use the commercial property and the function of your business. If there are specific things that are important for your business, you can negotiate terms with the landlord.
The well-being of your business
Signing a commercial lease without careful consideration of the terms could result in preventable issues for your company. If you are unsure of how you can protect your business or what should be in your specific lease, you may find it helpful to seek professional guidance before you move forward. An assessment of your business, your operations and your property needs could provide you with important insight for your approach to commercial lease negotiations.