When it comes to choosing a location for your business, it’s important to do your homework and thoroughly understand all the potential implications of your decision. A lease is a legal document, and hidden terms or fees that you’re not aware of can cause big problems down the road. That’s why it’s always best to consult with commercial property lawyers who can help you spot any potential issues and choose the right property for your business. By taking the time to fully understand the implications of your decision, you can avoid any surprises or problems down the line.
Here are some things to consider before signing a commercial lease:
- Know your rights. In any commercial lease, it is essential to know your rights as a tenant. With the help of a lawyer, go through your contract line by line and pay close attention to the obligations of both landlord and tenant. If there are any special terms or unusual clauses in the lease, be sure to clarify the exact meaning and implications with both a lawyer and the potential landlord. Although moving out is the last thing you think about when choosing an office, read that section carefully. Know exactly how long your lease lasts, what the procedure is once it expires, and if there is an option to renew. By understanding your rights and obligations from the start, you can avoid potential problems down the road.
- Rent and fees. When searching for office space, it is important to be aware of all the potential costs involved. In addition to rent, there may be fees for utilities, parking, and other services. Be sure to ask about all of these potential expenses so that you can get a clear picture of the total cost of the space. It is also a good idea to compare the prices of different office spaces in the area to ensure that you are getting a fair deal. If the rent seems unusually high or low, there may be a reason for this, so be sure to do your research before signing any leases. By being aware of all the possible costs associated with an office space, you can avoid any nasty surprises down the road.
- Permitted use. Before signing a lease for a commercial property, it is important to make sure that you will be able to use the premises for your intended purpose. Some spaces have restrictions on usage that could interfere with plans, both present and for future growth. Also, consider if the restrictions are too tight and will make it difficult to transfer the lease to someone else if necessary.To best answer these questions and make certain you have a full understanding before signing on, consult commercial property lawyers. We at P&B Law are happy to answer your questions and ensure you find the right Melbourne area office for you.
If you are about to enter into a Commercial Lease or an Agreement to Lease, please speak to one of our leasing specialists at Westmont Legal.
This blog post does not constitute legal advice and should not be relied upon as such. It is a general commentary on matters that may be of interest to you. Formal legal or other professional advice should be sought before acting or relying on any matter arising from this communication.