Strategies to Save Money on Your Commercial Lease
When you are in the process of looking for a property for your business, you should never rush things as there are several steps that you can take to reduce your costs. This is well worth it, as your business will have a higher chance of success when you pick a proper location that will be affordable while also having all of the amenities that you need for your particular business.
There are several steps that you can take to save as much as possible on your commercial lease, and they are outlined below.
Be sure to identify your needs and pick an appropriate location
Before you start looking for a location for your business, be sure to identify your specific needs. Is there a particular location that you need in terms of visibility? Do you need a large parking lot? Will some of your employees be able to telecommute?
There are many questions that you need to ask before you decide on a location, and if there are any ways that you can save money such as having some of your employees work from home, or by picking a location with less parking, you should take advantage of those opportunities.
Negotiate the terms of the lease carefully
When you are in the process of negotiating the terms of the lease, it’s helpful to have a Florida commercial lease attorney available for advice and assistance, because there are several areas where you may slip up.
For example, you will need to negotiate the parking and signage rights, rental rate, deposit, term, exclusivity to the location, expansion, maintenance fees, termination rights and more. It can be complicated, and your attorney can help you identify areas where you can save money and reduce your costs as much as possible.
Understand how your lease is structured
Every lease is structured differently, and you need to identify exactly how your lease is structured in terms of the costs to you. For example, some leases will require the tenant to pay just the rent, and the other expenses such as maintenance of common areas may be paid by the landlord.
Other leases will require the tenant to pay for other costs like taxes, repairs, maintenance, insurance and more. Be sure that you know how your lease is structured before making a final decision.
Mark Schecter is a skilled South Florida real estate attorney who can advise you and help you save as much money as possible on your commercial lease. Contact Schecter Law today at (954)-779-7009 for a consultation.