1 minute reading time
Questions to Ask Landlords
Today's Tenant Rep Tuesday Tip topic: Questions to Ask Landlords - Before Signing a Commercial Lease
When determining which commercial space is right for your business there are a lot more things to consider than just the rental rate. Landlords know that most tenants are not familiar with all the detail of commercial leasing. As a tenant, you want to negotiate the lowest out-of-pocket expense and the best lease terms that give you as much control as possible. These are a few questions you need to ask in order to negotiate the best deal possible.
- What Type of Commercial Lease is Being Used? – It's important that you understand the type of lease being used and what obligations you will have after signing it. Commercial lease types used could be gross leases, modified gross, triple net (NNN) leases, or full service leases.
- What Amenities are Available? – Does the building have a building conference room, fitness center, deli, covered parking, or other amenities that are free for Tenants to use? If they are not free how much do they cost?
- Are You Allowed to Assign or Sublease the Lease? –Will the landlord allow you to assign or sublease the space? If you sell the business and assign the space will the landlord let you off the hook or will you always be held accountable for the lease even if you sold the business?
Be sure to follow us on LinkedIn for the most current #TRTT insight.
Have questions or comments?
Reach out to us at 281-210-3090 or firstname.lastname@example.org