Most leases are long, complex documents with a great deal of information in small, fine print that is hard to read and time consuming. If you are a small commercial tenant , you will not want to automatically sign a Standard Form Lease without having it reviewed by a competent real estate attorney. Before signing the Lease.
Your real estate broker will likely make this suggestion to you since real estate costs are typically the largest line item expense and normally equate to some 25% to 40% of a corporation’s overall budget.
There are a number of clauses in a standard commercial lease that can be added or deleted by the landlord based upon the requests of a sophisticated tenant with the help of his or her attorney. In this economic climate where a great deal of square footage has become vacant in office and retail establishments, financially stable tenants are a desirable commodity and competition among landlords is fierce.
Consequently, a commercial tenant should take the time to plan and shop for an office or retail shop which will meet as many leasing needs as possible. (Landlords on your list of possible qualified properties should be aware that you are considering other options, which will increase the possibility of leasing concessions. )
A realistic analysis of space requirements is important with a view to company growth and increase in number of staff. Do the locations being considered have enough parking spaces for customers and staff? Are the building amenities and services in line with your organizational needs?
Your real estate broker can help you survey the market and prepare a list of qualified properties.