Factors to consider before signing a commercial lease agreement

On Behalf of | May 9, 2022 | Real estate transactions

Your company is expanding rapidly, and you need a larger space. You believe you’ve finally found the perfect spot and are looking to strike a deal.

If you’re not buying the location outright, then you will be looking at a commercial lease. This is a big commitment. Signing the right commercial lease could see your business continue to grow. Being tied up in an agreement that doesn’t suit you could significantly delay your progress. What are some of the key factors to consider before signing a commercial lease agreement?

Who are you dealing with?

Whether you are negotiating with one person or a company, you need to learn as much as you can about them. Do they have a good reputation in the area? Do you get the feeling that they are being honest with you, or does the deal sound too good to be true? A commercial lease agreement might tie you into the space for many months, and you need to know you’re working with someone who is going to honor their side of the bargain.

Who are your neighbors?

You may be in the manufacturing industry, producing high-quality goods at a rapid rate. The machinery that you utilize might emit some pollution, including noise. Are your neighbors going to take issue with this? Are there any legal restrictions in the area that might prevent your business from operating at 100% capacity?

These are just some of the key issues you want to consider before committing to a commercial lease agreement, there are many other factors to consider. Having a knowledgeable support network behind you while you carry out negotiations will ensure that you are able to pull off the best deal for your company.