Locating the ideal commercial space from which to operate is considered a success for any type of Tennessee business. It can be quite difficult to find a space that suits the operational needs of a business while also fitting in its budget. After locating the right building or storefront, there may be a sense of haste to sign the lease agreement as fast as possible. In reality, it is prudent to approach signing a commercial lease thoughtfully and carefully.
What should be in the agreement?
While many landlords may have a standard lease agreement for tenants, these contracts are entirely negotiable. It is possible for a business to negotiate terms that will work for their unique needs, coming to a final agreement that is suitable for both parties. Examples of terms that should be in this type of lease include:
- The amount of rent, the day it must be paid and possible rent increases in the future
- Which party is responsible for repairs, improvements to the space or remodeling
- What is included in with the rent, such as utilities and other services
The more detailed a commercial lease agreement, the less likely a dispute between the landlord and tenant will be.
Signing a lease
Before signing a lease, a Tennessee business will benefit from speaking with an experienced attorney. The terms of commercial lease can have a long-term impact, and it is prudent to negotiate carefully. An assessment of the specific situation and review of the proposed contract can provide insight regarding the best way forward.