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What should you ask about renting commercially?

When you decide you want to rent commercial property, there are many different things to consider. One of the most important to you may be the square footage. You want to have enough room for your business to grow and thrive, and you also want it at a fair price. When you look into buildings with the square footage you want, ask how the landlord measures. Some measure from inside the room, while others measure from outside the main walls. Those few inches add up, so look for value based on that knowledge.

Another thing to do is to look at common spaces. Are you going to be charged to use them, and is the landlord responsible for taking care of them? You need to know if common areas are your responsibility; if you're not interested in using them and have the option, you might be able to negotiate to eliminate the common area from your rental agreement.

One thing to ask is how the landlord expects rent to be paid. Will it be a flat monthly rate? Will you have to give a portion of your sales on top of the monthly rent? Landlords all charge differently, so be clear before you sign any agreements.

Signing a commercial lease is a long investment, so it's important to get everything worked out and negotiated ahead of time. You don't want to find out there is something you misunderstood later, which is why many people consider having their attorneys review contracts before they sign. The right or wrong contract could make or break a business.

Source: FindLaw, "Commercial Property Rentals," accessed Oct. 04, 2017

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