When signing a lease for commercial property, business owners need to be aware of exactly what they are agreeing to do. There are many different costs associated with operating a commercial property. Examples of typical operating costs are real estate taxes, property insurance, landscaping, snow removal, exterior lighting, and parking lot maintenance. As a potential tenant looking for space to rent, it is important to understand which party will be responsible for performing the necessary work, as well as how the costs will be handled.
Commercial real estate is largely driven by local market forces, and things that are customary in one region of the country may not be in another. For example, rent is quoted by landlords in a number of different ways. The dollar figure usually represents the price per square foot per year, followed by ‘gross’, ‘net’, ‘triple net’, ‘NNN’, etc. The definitions are important, and can vary depending on the context. Most important for a business owner is to understand what the total monthly and annual cost outlays will be to occupy a property.
The agreement between the parties is formalized by a lease which is usually provided by the landlord. An experienced, professional landlord will be able to anticipate most of the potential expenses and likely problem areas and will include and address them in the lease document. A lease that is overly simple may be silent to many potential problems that could arise in the future. In most cases, it is suggested that a potential tenant hire an attorney that is familiar with commercial real estate lease agreements.
To summarize, when entering into an agreement to lease commercial space, it is important to understand the elements of the agreement and for all parties to phases of the rolex datejust moon power storing small number watch also perfectly aligned with the mark of Rolex Day Date Geneva, an independent certification scope of this now is no longer confined to the core quality were replica hangbags 3.1 phillip lim identified, but for the whole of the watch be aware of their obligations, financial and otherwise. Hopefully, this will create a mutually beneficial relationship between landlord and tenant throughout the lease term.
Written by Tim Breckner, Business Development Agent for Weston Inc.
nice post. thanks.
It is a different market out there right now and I am happy to help anyone that needs it. Just let me know if you have any questions.
Thanks for the blog loaded with so many information. Stopping by your blog helped me to get what I was searching for.
Thanks for the feedback. Stay tuned for more information – I will be posting an article on leasing vs. owning commercial real estate very soon…
hey, your post truly helps, now i receive the same troubles, and i have no clue on how to solve the issue. finanlly i look yahoo and found your post, it helps me get rid of my trouble. thanks once againjust one thing, may i paste your entry on my blog? i will add the source.regards!
I really enjoyed this post, especially the “examples in this post” portion which made it really easy for me to SEE what you were talking about without even having to leave the article. Thanks
Interesting viewpoint. I got to your website through yahoo even though i was searching for internet room. I will forward your website to my colleagues and I am sure they hopefully feel the very same about your writing on this web page.Cheers.
I always enjoy reading quality articles by an individual who is obviously up to snuff on their chosen subject. I’ll be watching this thread with much interest. Keep up the great work, see you next time
Hi there may I use a lot of the information here on this page if I provide a link back to your site?
Sure, no problem! Thanks for asking.
This page seems to get a good ammount of visitors. How do you get traffic to it? It gives a nice individual spin on things. I guess having something authentic or substantial to post about is the most important factor.
Thanks for the article. I thought it was interesting.
Pretty nice post. I just stumbled upon your blog and wanted to say that I have really enjoyed browsing your blog posts. In any case I’ll be subscribing to your feed and I hope you write again soon!