Leasing Real Estate Checklist & Questions to Ask Before Signing a Retail or Commercial Lease

Business owners should not take signing a commercial lease lightly. When first starting out, one of a business owners’ biggest expenses may be a store-front or office space. Once you have signed a commercial lease, like any contract, it could be too late to make any changes. A commercial lease is a legally binding document that can potentially prevent you from growing your business, or worse yet, running it into the ground. With that in mind, we at Kajioka & Associates, Attorneys at Law, would like to share what you should know before signing lease.

Things to Consider Before Renting a Commercial Property

1) Carefully read the lease and understand it before you sign it. Though this may be obvious, it still needs to be said. Reading through a lease agreement is tedious and boring. But knowing what you are agreeing to for the duration of your lease is crucial. Terms of the lease, which party is responsible for what, what happens in specific situations, and so on. With the various conditions and terms that are included in the lease can impact and affect your business operation. Before you sign the lease, you must be agreeable to the terms. If you are ever concerned about a term in the lease, you can consult an attorney.
2) Negotiations of the lease. The landlord may have used their lease with all of their other tenants, but it does not mean you are not able to negotiate your lease terms. Check to see if you and the landlord can come to terms with a list of any provisions you disagree with in your lease agreement, before signing it. They may be willing to alter quite a few changes that may surprise you, however, be realistic in your expectations. For example, the landlord may be less likely to budge on some terms in the event your lease was a quarter of the entire property or more, especially if the space is much less than the other tenants.
3) Ensure your business structure is in place. Before signing a lease, make sure you have established your Nevada entity first. If it does not exist, you cannot be protected by your corporate shell. Forming your business entity on the back end will likely cause issues for your business, landlord, and your lease down the line.
4) Before signing your lease, seek legal counsel. One of the major mistakes business people make is not getting legal advice before they sign a lease. Before signing your lease, simply getting a consultation can save your business time and money in the future. Consulting with legal counsel should always be at the top of your list prior to signing, there are many hazards in a commercial lease that you should understand.

Criminal Defense, Personal Injury, Business Attorneys & More in Greater Las Vegas, Nevada

For a new business owner, starting your business and acquiring a commercial space can make you a little anxious. With diligence, patience, and care, any business owner can set up their business for success. For any legal matters concerning your business, call Kajioka & Associates, Attorneys at Law, can help you with your lease and other legal needs. Contact us today!

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