Don’t let your business be hurt in the long run by a poorly negotiated lease! Study up on some ways to make sure you are on top of your negotiations:
Just as in the case of residential leases, landlords for commercial real estate often add extra fees for maintenance, upkeep of common areas (CAM fees), and other costs. You might want to check out utility costs, which are usually the tenant’s responsibility, but find out how these costs are measured. Are they individually metered or based on square footage? Ask your landlord about these “hidden fees” and other policies, plus see if he or she can show you examples of expenses usually incurred by tenants.
Maintenance and Repairs.
In residential leases, maintenance and repairs is usually the responsibility of the landlord, but commercial leases do not function this way. Approaches to this issue vary: some commercial leases state that property repairs and upkeep are the tenant’s responsibility; others stipulate that tenants pay for the upkeep of systems such as plumbing, air conditioning, etc. Check your lease to figure out who is responsible for these various costs, and also to see if there is a limit on how much a tenant might have to pay for repairs and maintenance. It might be helpful to consult an attorney about your legal rights for these clauses.
Do your homework so you know what you are getting yourself into in a lease!
Give Kathy Woodward at DDI Commercial a call at 913-685-4100 to set up a tour of a Southcreek commercial space for rent in Overland Park!