Finding a commercial space that is appropriate and cost-effective for a Mississippi business can be a difficult process. Before signing the lease, however, it’s important to consider more than just the price of rent and the location. There are other terms in a commercial lease that could affect the financial interests of the tenant if there is a problem. Knowing what is and what should be in this type of real estate contact is good for business.
Specific terms matter
What’s is in a lease or left out of a lease could affect the interests of the business. It is possible to negotiate terms for these types of contracts that allow both parties to feel confident regarding the arrangement. The following are important terms for any type of commercial lease:
- Rent amount and possible rent increases in the future
- Length of the lease
- What is included in the rent, such as utilities
- Responsibility for repairs or improvement to the space
- Potential for subletting the space
- What happens if one party terminates the lease early
The more thorough a lease, the lower the chance of a dispute over the terms. A carefully constructed lease protects the interests of both the landlord and the commercial tenant.
Real estate matters
Any real estate transaction is a significant legal and financial transaction. Whether buying residential property or signing a commercial lease, proper terms are critical. It may be helpful to consult with a Mississippi legal professional when negotiating the terms of a lease or considering a lease agreement before signing.
