When you find the ideal space, its owner may hand you prepared lease documents but never assume you must accept the provisions. Commercial property owners or managers expect to negotiate the terms of a lease, whether they say so in advance or never bring it up.
These practical tips can help when the time comes to discuss the terms of your first commercial lease.
Before you begin negotiations, establish a realistic budget accounting for rent, utilities, maintenance and potential expense increases. Knowing your financial limits can empower you to step away from an unfavorable deal and seek a space elsewhere.
Negotiation is a dance, not a solo performance. Prepare a list of desired terms, but be ready to compromise if you want the same consideration. A willingness to concede on less crucial aspects might incentivize the landlord to budge on points that matter to you.
Research Arizona's commercial lease laws and familiarize yourself with local market trends. The more you know about average rental rates and lease clauses, the better prepared you are to argue for equitable tenancy terms.
Dealing with binding legal agreements can be tricky, especially for new business owners. Since a commercial lease is a legal contract, consider seeking guidance from someone experienced in both business and real estate law.
A representative can review your contracts, identify possible pitfalls and ensure they align with your business needs and goals.
]]>That said, there are many things that sellers don’t have to disclose. Let’s take a look at a few of them below.
First off, if someone in the house was diagnosed with a disease, even something that is very serious, the seller does not have to disclose this disease. Medical records are private and protected.
Sellers also do not have to disclose if anyone passed away in the home. It doesn’t matter if it was a homicide, a suicide or a natural death. Sellers also don’t have to disclose other types of crime that may have occurred on the property, even felonies.
Lists of sex offenders, along with online maps, can disclose if they live near the property. But the sellers are not obligated to disclose this information themselves, even if they know. Many sellers have no idea and have never checked.
Disclosures are just one part of the real estate transaction process. Those involved need to be sure they understand all their legal options. It can be helpful to have an experienced legal team to provide guidance and advice about legal obligations, necessary steps in the selling process and more.
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