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Tips for negotiating a commercial lease

Whether a business has an established history or is just starting, finding a space in which to operate is often an important step. Renting is the option most businesses choose and with good reason. It can save a company money and provides the option of moving on if more or less space is needed. Here are tips to help business owners ensure that they are getting the best lease terms possible.

First and foremost is deciding on how much rent is reasonable. Companies should have a good idea of what similar spaces in the area are going for, advises All Business. Some landlords may be willing to agree to lower rent in exchange for a longer lease term. Some types of leases allow for landlords to pass through expenses like taxes, utilities and building improvements, while others do not. Lessees should make sure that they fully understand the terms before agreeing to anything in writing.

It may also be a good idea to pay close attention to whether or not the lease can be assigned to a different entity or whether subleasing is allowed. Both of those options give businesses flexibility but not all landlords may wish to grant those practices.

The Huffington Post points out that attention may also be given to whether the language allows the lease to be broken or if the tenant can get out of the lease under certain circumstances. Finally, renters should take it upon themselves to ensure that their intended use of the space is allowed by the local municipality. A landlord may represent a property as being properly zoned, but it is not worth finding out after the fact that they were wrong.

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