Prior to signing any kind of a commercial lease agreement, is absolutely essential that you take the time to conduct your own research in order to avoid any and all potential issues that you may end up experiencing.
Here are four of the most important things to know before signing a commercial lease agreement.
*First and foremost, it’s essential that you take the time to research all of the necessary zoning laws. Even though a landlord may end up designating your space for another reason, it’s important that you ensure that the aims of the landlord are always consistent in terms of local zoning laws. This is because there may be instances in which a landlord believes that they can lease a space to a specific business; however, it may not actually line up with the zoning laws of that particular area.
*Another important factor to note prior to signing a commercial lease agreement is to come to a better understanding of the area that you’re in. Location is the one thing that means essentially everything in terms of a small business being able to survive, meaning that you should always take the time to determine which area is the best for you to situate your business in. Of course, you should also prepare to plan accordingly in the event that the end of your current lease may be coming. All in all, experts note that shopping around for the perfect properties is a process that can end up taking upwards of two or more years to complete, making it even more important to, as previously noted, take your time with this whole procedure.
*One other factor to note is to find out everything you can regarding the landlord. For instance, if a landlord were to fail to make payments to a building owner in some states, then this can result in a tenant or business being evicted due to a foreclosure on the property. This is also the case if the business itself has made payments on time. Consider conducting a public records search in order to find out more information about the landlord.
*Another important factor to consider prior to signing any kind of a commercial lease agreement is to take the time to familiarize yourself with everything involving both nuisance laws and the environment itself. When it comes to signing a lease, especially a commercial one, perhaps one of the most important things is being able to operate at the fullest capacity possible once your doors officially open. Additionally, there are all kinds of leases that feature various extensive points in regards to smells, equipment, and noises. Furthermore, you will also want to take the time to conduct your own research in terms of basic environmental laws involving a property before you make a final decision to sign anything. This is because oftentimes, landlords tend to miss these specific laws, which can result in the laws themselves eventually being used against your business in some fashion or another.