Wondering what questions to ask when leasing a commercial space? When leasing a commercial space, it’s essential to ask the right questions to ensure a successful arrangement. Here are some key inquiries:
Lease Terms and Obligations:
Have you read and understood the entire lease? Ensure you know your obligations and what the landlord is responsible for.
Can you terminate the lease if needed?
Common Area Maintenance (CAM):
Do you understand the CAM terms? Be aware of your allocated percentage of CAM fees based on the building size.
Verify that you’re not paying for unrelated costs (e.g., marketing or legal fees).
Property Functionality and Safety:
Is the space safe and suitable for your business needs?
Consider any necessary modifications or improvements.
Costs Beyond Rent:
What additional costs (e.g., utilities, insurance, property taxes) will you be responsible for?
Factor in furniture costs if the space is unfurnished.
Annual Rent Increase:
What will be the annual rent increase? Understand how escalation will be calculated.
Keep in mind that asking detailed questions guarantees that you make an informed choice when renting commercial space. I hope you get an idea of what questions to ask when leasing a retail space.
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Pritam
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2024-07-29T11:42:25+00:00 2024-07-29T11:42:25+00:00Comment
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