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Renting a business space is probably one of the largest overhead costs incurred by a company. Since there is no such thing as a standard lease, you definitely need to become more lease-savvy and acquire some basic knowledge on the subject of leasing. Before signing that lease agreement for a Florida commercial real estate property, try to understand several practical tips.
ask before signing
If you’re new to the subject of commercial space rental, there are a number of things you’ll need to become familiar with. One of the most important aspects that you need to understand is the validity of the lease agreement. Know that once you sign, you cannot break the agreement at will or modify the terms to suit your company’s needs. It doesn’t really work that way. So before finalizing a lease agreement for a Florida commercial real estate property, be sure to ask the following questions.
ask yourself:
* How long do I intend to occupy the commercial space? You need to estimate how long your business can operate effectively in the space you want to rent. Even though the terms of all leases are negotiable, the term of the lease is essentially tied to a fixed norm. Most short-term leases run for approximately three to five years, while long-term lease contracts are typically valid for ten years.
* Can I get out of the lease? — Violating the lease agreement for a Florida commercial real estate property can have serious consequences. You could be denied access to the property, lose your deposit, or be sued. Make sure that you are actually intent on staying at the place as well as the period stipulated in the contract before you actually sign it.
Ask a Broker:
* What is your experience level? Commercial real estate is a really specialized area with most brokers usually focusing on two types of properties: warehouse or office space. Thus, you need to choose a broker who has a highly regarded record in the Florida commercial real estate industry.
* What are your certifications? — Inquiring about professional certifications is certainly acceptable. Although experience is still the best yardstick to judge a broker’s competence, designations from renowned real estate organizations prove that he or she has put in the extra effort.
Negotiate for the best lease deal
Try to negotiate the best lease agreement for a Florida commercial real estate property. Here are some useful negotiating tips that you can use:
* Take advantage of the “Permitted Uses of the Premises” clause. – A commercial real estate lease typically includes a clause that sets forth this special condition. Try to make this clause as comprehensive as possible because your business may expand or you may decide to sub-lease a portion of your space to another company.
* Reach a favorable deal for the lease term. — Often, landlords of Florida commercial real estate properties are willing to make allowances for longer term leases. Instead of settling on a fixed number of years, try negotiating a shorter lease term that has renewal options.
http://commercial-realestate-florida.xon.us — Florida Commercial Real Estate
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