As a small business owner, you know how important it is to have appropriate space to run your business operations. Commercial real estate can be difficult to come by for small businesses in Texas, yet there are many things to consider when negotiating a lease. Lease agreements are serious, and the terms can have a significant impact on your operations and financial health.
If you think you found the perfect location for your company, it can be tempting to forge ahead and sign on the dotted line as quickly as possible. However, there are significant benefits to seeking guidance as you make important decisions, even allowing a legal ally to negotiate the commercial lease on your behalf.
Important considerations when leasing
Leasing space is an important step for your business. While this is an exciting time, it is beneficial to protect your future interests by negotiating terms that are fair and reasonable. Many businesses suffer the consequences of poorly worded or unfair lease agreements because they did not proceed carefully in the initial stages of contract negotiation. Some things you would be wise to consider include the following:
- What are the provisions for rent increases? Unexpected rent increases can damage your bottom line. Include terms that will protect you against undue financial harm and exorbitant rent increases.
- How long will the lease last? It is important to clearly define how long the initial lease will last, as well as provisions to renegotiate terms when it is time to renew.
- Who is responsible for improving or remodeling the space? Whether the building needs improvements before your business moves in or you need to adjust some things to make the space work for you, it is important to outline which party is responsible for the costs.
Commercial leases can be complex, and these are just some of the things that you may need to consider as you work on a lease that will truly work for your business.
Protect the future of your business
There is a lot at stake for your company when signing any type of commercial lease agreement. Not only will you need to protect your immediate interests, you will need to consider how your choices can impact the future of your company. With much on the line, there may be great benefit to having experienced legal guidance on your side as you negotiate a lease agreement and protect your company's legal and financial interests.