A commercial lease – defined by Business Dictionary as an “agreement between a landlord and a business outlining terms and conditions of property rental” – can be an extremely onerous contract and expert legal advice is essential from the negotiation stage through the point of signing the original lease and related documents.
Renting commercial space is a big responsibility for your business, as its success or failure can be determined partly by certain terms of the lease. It can come in three main forms: full-service leases, net leases, and modified gross leases. Identifying, negotiating, and signing a commercial lease is a long process, and it is essential that you have a clear and ample understanding of it.
As a prospective tenant, it is imperative that you are armed with the right questions that you should ask before you fully commit to a lease. Here are the questions that you should be asking, according to this infographic by Amorys Solicitors:
An infographic by Amorys Solicitors.
