My landlord is going to let a new tenant put a patio in a common area in front of our building -- and right in front of my grooming shop. This will make it practically impossible for passersby to see my shop from the street, and I will lose an important source of new customers. Can I break my lease?
I run a massage and skincare business. My building was just sold. I did not know it was for sale. I have a three-year lease, which mentions nothing about new owners or changes to the building. The new owner wants to raise my rent and paint the building to match his gas station. Obviously, this would not be good for my business. Any advice?
I currently lease a 4,500 square foot office and am presently three months behind on rent. I cannot catch up due to slow business. The building is about to be sold. The present landlord is asking me to furnish a form labeled an "Estoppel Certificate," stating I lease the premises and will continue. I want to get out of this lease. Can I do so under these conditions?
I am the owner and lessor of an industrial property. I had a fine tenant, A, who did so well she sold her business and assigned the lease to B. Unfortunately, B isn't prospering and I'm worried that B won't be able to pay the rent. Does A still have some responsibility to pay?
I sublease a portion of my commercial building. I have not raised the rent for five years. The sublease has been on a month-to-month basis for four years. I now feel it is time to raise the rent. If I present the tenant with a new sublease 30 days in advance of the start date, is there any limit on the amount I can raise the rent -- or on whether I can raise it at all?
I took on a commercial lease to have an under-21 arcade. Now that I have redone the building and opened the arcade, the owner threatens to close me down because of the noise. We asked about the noise when we signed the lease and he said it was covered. What can I do now?
We are leasing office space to a tenant who wishes to run cable throughout the building for networking purposes. They are asking that we pay for the service, which amounts to an excess of $12,000. When the tenants move, they will take the server, but leave the cabling. Is this a normal thing for landlords to provide? Will we have obligations to the tenants with regard to down time or loss of work due to malfunctions in the system?
Once you've found space that looks promising and worth pursuing, it's time to figure out the true cost of the rental. You might ask, isn't the monthly rent all you need to know? There are other important issues you'll want to understand before you head into serious, clause-by-clause lease negotiations
You probably don't have unlimited time available to choose a business space, so you need to make the search process as efficient as possible. This means you'll want to focus on the space that meets your highest priorities. Don't waste time on places that are overpriced, too small, or in second-rate locations. Follow these tips to find the space that's right for you.
Renting commercial space is a big responsibility -- the success or failure of your business may ride on certain terms of the lease. Before you approach a landlord, you should understand how commercial leases differ from the more common residential variety, and before you sign anything, make sure you understand the basic terms of the lease, such as the amount of rent, the length of the lease, and the configuration of the physical space.
Your business has become successful, and you're ready to move into a better place. Or you've decided to streamline your operations and rent a more efficient space. Perhaps your home business is bursting out of the garage and needs its own location. Whatever your reason for seeking space to rent for your business, it's important to understand as much as possible about commercial leases to get the best space for the best price.
Whether you're a small start-up or an established business, begin your search for commercial space by carefully thinking through your needs. A clear understanding of what you do (and don't) want for your business will save precious time and money, commodities that you undoubtedly want to plow into the business itself. The following points will help you analyze what's most important to you in a business rental.
Questions How do I pick a location for my business? What is a commercial lease? Are commercial lease terms negotiable? How do I determine if the location I want is properly zoned for my business? Should I rent or buy space for my business? How do I pick a location for my business? Commercial real estate
Once you've found suitable space and you and the landlord have agreed on the key features of the lease, such as how much rent you'll pay and how long the lease will run, it's time to formally spell out your deal in a binding, written lease. Most important? Head into the lease negotiations understanding the meaning of the landlord's lease clauses. A thorough understanding of common commercial lease clauses will help you avoid hidden, onerous traps.
While business insurance is not generally required, it's a good idea to purchase enough insurance to cover your company's assets. Even if you form a corporation or an LLC, which shields your personal assets from business liabilities, you still risk losing your business if disaster strikes. Insurance
The lease that you and your landlord sign defines your legal relationship. Along with your insurance policy and your loan documents, your lease will be one of the most important legal documents in your filing cabinet. You need to learn a bit about signing a business lease, so that the landlord's proposed lease is just the starting point from which you'll negotiate changes.