Finding and Renting Space for Your Business FAQ

Questions:

• Should I rent or buy space for my business?
• 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?

Answer:

What is a commercial lease?

A commercial lease -- as opposed to a residential lease -- is a contract between a business and a landlord for the rental of building space. A lease can be for a short term (as little as one month) or long term (up to ten or 15 years), and it can be written or oral (spoken) -- although an oral lease for more than a year will generally not be enforced by a judge after the first year. For more information, read The Commercial Lease: What You Should Know.