Key Considerations for Business Lease Preparation
Signing a business lease is a major step, whether you're opening a new storefront, moving offices, or expanding your operations. A poorly drafted lease can lock you into unfavorable terms, so it’s crucial to negotiate carefully and understand what you're signing. Here are some key considerations before putting pen to paper. 1. Lease Type and Terms Not all leases are the same. Commercial leases typically come in different structures, such as: Gross Lease: The landlord covers most expenses, including taxes, insurance, and maintenance. Net Lease (Single, Double, or Triple): The tenant covers some or all expenses. A triple-net lease (NNN) means the...
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