Most businesses need space to operate, and when they decide to settle on locations for their enterprises, they can either buy or rent their selected properties. In Florida, many businesses elect to rent space for their operations and when the do they enter into commercial lease agreements with their landlords. Like a residential lease agreement, a commercial lease agreement contains terms that govern the relationship between the renter and the lessee. However, commercial lease agreements often contain different terms than their residential counterparts.
Common terms in commercial lease agreements
There are some basic terms that practically all commercial leases contain, such as those related to rental costs and lease durations. However, commercial lease agreements may use different standards for calculating rent that include added costs like property insurance, taxes, and even repairs. Before signing a lease for a commercial space it is important for a lessee to know what their rent will cover.
Additionally, commercial leases can have restrictions on how properties are used. Many factors like zoning and permitted uses can impact the suitability of a space for a particular business operation. Similarly, commercial leases may limit how and when lessees can make improvements to spaces to ensure the smooth operation of their businesses.
Ensuring strong commercial lease agreements
When preparing to sign a contract to rent a commercial space, it is valuable to have a real estate attorney review the document. A legal professional in this field of law can help their client understand what terms they will be subject to as well as what terms they may wish to negotiate with the other contractual part. This post does not offer any legal advice to its readers. All questions related to commercial lease agreements and real estate law should be directed to knowledgeable legal professionals.