As your business starts to grow, it's natural that you'll realize that you can no longer run things from your house. A commercial office is a smart idea, but if you are not used to securing a commercial lease, it's possible that you can make the kind of mistakes that end up costing you money or causing some kind of problem. Therefore, be sure to find out the following information so you won't sign a commercial lease that ends up causing trouble for you.
Whether An Exclusivity Clause is in Place
The first thing you'll want to do when looking for a space to rent is ensuring that a landlord isn't renting space to other companies that are similar to yours. You could be tempted by a low rent price and a great location, but if your future landlord is already renting to a business that sells the same kind of things you do, you might want to pass on that lease to avoid that kind of competition. Be certain that a landlord has an exclusivity clause in place that will forbid them from offering a similar company a lease in the building they own.
Whether You Can Sublet
If you do a lot of business during the holiday season, you may not have as much to do in the rest of the year. To make money, you may be willing to rent out space to other small businesses that can use the area during periods that are slow or unprofitable for you. What you should know, however, is that some building owners don't approve of subletting because they cannot properly vet the company. To avoid any trouble, it's vital that you look for any subletting information when signing a lease.
What Happens if You Don't Make a Payment
Any business can run into trouble, and if you should ever have a problem making a rent payment, you need to know what happens next. It's essential to ask any commercial space landlord about their nonpayment policy so that you can make appropriate plans. For instance, you might be locked out of your rental space or end up having to pay additional fees; knowing what will happen can help you select the commercial space that will work best for you.
With the information that's laid out here, you can ensure that your company can grow without becoming embroiled in legal trouble or other issues. Keep talking with commercial landlords until you find one that is fair and offers you reasonable terms for a lease. To learn more, contact a company like Hartman Income REIT.
Hi, my name is Jessica Williams. Thanks for stopping by my website. I have moved a number of times and in three cases I have had to sell a house. The first time I sold a house I listed it with a real estate agent. The second time I did it myself. The third time I listed with a realtor. You can probably ascertain from this information that I found listing with an agent the better route. I managed to sell my house by owner that one time, but never again. There is too much involved and too great a risk for errors. There’s a bunch of paperwork and preparation that goes into selling a house, more then I imagined. My goal here is to share my experiences with you. My hope is to make your experience as pleasant as possible.