Business owners in Westminster may be interested in leasing commercial property to expand their current ventures. While growth is an essential aspect of success in business, it’s important to fully comprehend a commercial lease before signing. At Ciancio Ciancio Brown, P.C., we can help guide business owners thanks to our experience in many diverse business law matters.
Score.org lists a few essential questions to ask when considering a commercial lease to help clarify terms and obligations. If the property requires immediate maintenance (such as enhanced electrical systems or new carpeting), it’s important for the tenant to inquire about who will cover these costs up front. Also, there should be a discussion about utility payments. In many cases it’s the tenant’s responsibility to cover utilities, and these expenses should be discussed and factored into the total cost for leasing a building.
While the details of the property itself are important, prospective lessees should also inquire about the area surrounding the property. This is important for customer-based ventures, which may require placement in areas with a higher amount of traffic. Additionally, things like parking accessibility can have a huge impact on the success of a business, as well as the ability to retain top employees. If a property lacks suitable parking, owners could be looking at a dearth of opportunity.
Additionally, there are some considerations to make before beginning a commercial property search. For instance, amenities play a significant role in the overall value of a space. Business owners should also be mindful of things like square footage and functionality. Some may be satisfied with a smaller area, while others will require a roomy work environment to get the most out of their leased property. If you have questions about commercial real estate or other legal topics pertaining to business, please visit us online.