For many companies, their office space is one of the first impressions that they give to consumers or clients about who they are. Landlords of commercial properties understand this quite well. This is why rent payments tend to be one of the largest monthly expenses for any company.
Businesses should ensure that rent amounts reflect the facilities they lease, because they could be responsible for a large amount of money otherwise. Often times commercial leases can be written to remain in effect for several years.
Given what is at stake when commercial leases are signed, it’s important that they’re properly executed to protect both parties’ interests.
One of the best ways a commercial property lessee can protect themselves is to have everything in writing. This includes the rental rate, a general description of the size and condition of the space rented, who handles repairs or renovations that are made and other terms.
You shouldn’t ever take a landlord simply at their word nor expect them to follow through on their verbal promises. Getting everything in writing is your best form of protection.
When negotiating a lease, which is a type of contract, you should also keep in mind the potential future growth of your company. This is important, as you want to be careful not to get signed up for a long lease if you expect to move operations to a different area as you expand. This is also important if there’s no additional space to expand operations at that location if you need it.
You’ll also want to make sure whether you will have rights to common areas, including parking areas, and also what the contract says about how disputes should be resolved.
Disputes regarding leases are just one of many complex business-related issues that a business owner may have to address. Other issues include partnership disputes, employee contract matters and breaches of contracts. When faced with such issues, you will want to have an Augusta business law attorney to strongly litigate your case in your corner.