It is important to be aware of what kind of clauses you will encounter in a commercial lease, as there are many different factors associated with renting a space that your business will need to consider before signing. Here are a few more examples of clauses you will most likely find in your lease:
5. Term Clause. This clause will probably be near the beginning of your lease and gives the length of the lease, along with specific beginning and end dates. It might be tempting to gloss over this section, but it is important to pay attention to details here. For instance, the lease might state that the start date is the day you sign the lease, which would mean that from that day on you are responsible for rent and often other obligations, such as carrying insurance. To avoid this potential issue, you want to make sure your lease includes several dates stating when you can move in, when rent is due, when you are responsible for insurance, etc.
6. Insurance Clauses. There are several different types of insurance available to your business, so you will need to evaluate each one as it relates to your landlord’s requirements, the needs of your business, and the property. An insurance broker can also help with this process, especially when it comes to determining an adequate level of coverage.
Coming in prepared to negotiate will help you achieve the best possible lease for your business!