4 Questions To Ask Before Leasing An Office For Your Small Business
When you are finally able to rent an office for your small business, there are a lot of things to keep in mind. After you find the right office to lease, you need to be sure that the lease contract you sign is a fair one for both you and the landlord. Here are some questions to ask before signing the lease for your new office.
Who is Reponsible for Repairs and Maintenance?
Because the landlord owns the building, you might think that they will assume responsibility for any office repairs, snow removal, trash removal and other maintenance tasks. However, that may not be the case. Before you sign the lease, make sure there is a clear understanding about who will pay for these things.
Does the Lease Contain an Exclusivity Clause?
If the office is in a building that has other tenants, it is important that you ensure there is an exclusivity clause in place. Such a clause can prevent the landlord from leasing another space in the building to a tenant whose business is in direct competition with yours.
Is Subletting Allowed?
If you choose to vacate the office before the lease term is up, you might want to allow another vendor to use the space. However, this may be against the landlord's wishes. Instead of wondering and finding out later that it is not allowed, make sure that a clause about subletting is included in the lease if you want that option to be available to you.
What Happens if a Lease Payment is Missed?
While you may expect to make all your payments on time, there is a chance that you might miss a payment during the term of your lease. This is why you need to talk to the landlord about what actions they might take if you don't make a payment. Will they immediately initiate eviction proceedings against you? Will you be locked out of the building? Will you be able to make the payment late to avoid eviction or will you have to pay the rest of what you owe on the entire lease? Be sure you find out this information now so that you know what to expect.
Now that you know some questions to ask when you're about to sign an office lease, make sure you use the information above in order to make the right decisions. Work closely with your attorney and real estate agent to ensure that any lease protects your interests.
If you are still looking for the ideal space, contact local spaces, such as Vista Cargo Terminals Inc.
