Questions to Ask When Leasing Commercial Space

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Before you decide to lease a commercial space, ask questions. For your own safety and satisfaction, you need to know about the property as well as the lessor's expectations and requirements. Once you find out what you need to know, you can make an informed and confident decision about leasing.

Lease

  • Ask about the length and other terms of the lease as well as the penalties involved in breaking it, such as losing your security deposit. Think about how long you may need the space. Consider how long it will be big enough to meet your needs as well as what will happen if your business doesn't do as well as you hope. Ask about the possibility of sub-leasing part of the space. Also, ask about rent increases.

Management

  • Find out if an on-site manager is present. This can make a big difference when it comes to maintenance. If someone is there at least part of the time, you can feel more confident that issues such as a leaking roof or a broken toilet will be resolved.

Other Tenants

  • Find out about other tenants in the facility. What types of businesses do they run? Are their philosophies or beliefs similar to or different from yours? If your business practices and culture clash with those of other tenants, it may not be the best fit.

Amenities

  • Ask the landlord if there are any amenities he can offer to sweeten the deal. Perhaps there is a covered parking space available, or one that is near the building. Maybe he will offer a moving allowance.

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References

  • Photo Credit for sale or lease image by Keith Frith from Fotolia.com
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