Fort Lauderdale businesses are choosing to lease commercial office space at an increasing rate. While some purchase commercial real estate, more and more businesses are opting to become tenants.

Finding a commercial office space

The process of finding a commercial office space to lease is similar to finding a home. Throughout Florida, there are several office spaces vacant and ready to be leased in prime locations.

You should begin your search for a property that meets your criteria. Once you find a property that’s suitable for your business, you can negotiate the lease terms with the landlord. It’s important to approve of the terms before you sign a binding lease that confirms the agreement with the landlord.

What is a commercial lease agreement?

A commercial lease agreement is a legally binding and enforceable agreement that specifies the terms of a lease arrangement. The lease duration can range from month-to-month to multiple years.

Generally, a commercial lease will name the landlord, tenant and any other parties of the agreement, the duration of the term, monthly rent and other obligations of both parties, and it can be structured in many ways.

Usually, on the last day of occupancy your lease is terminated if no other agreements between the landlord and tenant exist.

If the lease term is year-to-year or month-to-month, it’s considered a periodic tenancy, which means it automatically renews at the end of the lease period.  Your lease will not terminate and will continue to renew indefinitely.

Terms of a commercial lease

The terms of a commercial lease, although often similar, can vary depending on the agreement between the landlord and tenant.

Under some lease agreements, the utilities are included in the rental amount. In other situations, they are not and the tenant is responsible for paying the utilities, in addition to the rent they agreed on.

Unlike a simpler residential transaction, commercial leases can be complex and may require you to come up with a substantial amount of money. It is imperative that you fully understand the terms that are expressed.

Before your business leases office space in Fort Lauderdale, you should hire an attorney to guide you through the commercial lease process.