Leases almost always favor the landlord, but try to negotiate on things that are important to your business. You might want to try pushing for clauses that address what happens if you need to leave your space before the lease is up. Here are a few to consider, as suggested in the article, “How to Get a Good Deal on a Lease“:
- Exclusivity Clause – This guarantees that your landlord will not lease a space in the same building or development to a direct competitor of yours. If a landlord violates this clause, you would be able to free yourself from the lease.
- Co-tenancy – Retail businesses in shopping centers often rely on big name “anchor” businesses to draw in traffic, so they have a vested interest in this big businesses staying open. This clause releases the tenant from the lease if a landlord does not replace an anchor tenant within a certain period of time.
- Subleasing options – A subleasing clause might allow you as a tenant to sublet some or all of your space to a similar or complimentary business.
It is important to know the conditions under which you can end a lease before signing the bottom line.