If you own a business in Lake Worth or South Florida, you know how difficult it is to manage the day-to-day details and expenses associated with your operations. Many Lake Worth businesses, yours included, may lease property, and a poorly negotiated or unfair agreement could spell big trouble for your company.
There are various financial uncertainties associated with owning a small business, and dealing with complications related to your rent can be debilitating. Since there is no set standard for commercial lease agreements, it can be beneficial for you to understand how to fight back against unfair terms and negotiate a commercial lease agreement that shields you from additional expenses and complications in the future.
Protecting yourself in a lease
One of the most important considerations in a Florida commercial lease agreement is the cost of the rent. From the very beginning, you would be wise to negotiate an agreement that is both reasonable and fair. Unless you are already familiar with the terms associated with commercial real estate legal matters, you may find it useful to familiarize yourself with the following terms:
Net lease: Signing a net lease means that the renter will be responsible for paying rent, along with paying for taxes, insurance and necessary repairs needed for the space.
- Triple net lease: This type of lease requires the tenant to pay the rent amount to the landlord, as well as pay the landlord for the cost of insurance, taxes and repairs.
- Double net lease: By signing this type of lease agreement, a commercial lease tenant will have to pay the landlord for rent, property taxes and insurance.
- Gross lease: A gross lease requires the landlord to pay for repairs, insurance, property taxes and utilities. The tenant just pays rent, but the rent is usually higher because so much is included.
Before you sign on the dotted line, you would be wise to carefully review the terms of any legal agreement, ensuring that there is nothing in the agreement that could compromise your financial or legal well-being in the future. It is always recommended that you hire competent Lake Worth Real Estate Lawyers such as the Law Office of Ryan S. Shipp, PLLC.
Help for complex business-related matters
Renting a commercial space could be crucial for your small business. Simply finding a proper place to do business is not the only step to this process. You may have to negotiate a fair lease, and this is not always easy to do on your own. It is prudent and practical for you to seek a clear understanding of your rights as a commercial tenant as well as experienced guidance for carefully reviewing the terms of your lease agreement. Call your Lake Worth Real Estate Lawyers today @ 561.699.0399 to see how we can assist.
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