Renting commercial property proves expensive and is a tremendous responsibility. If you have never rented office space or buildings before, there are some important facts you need to learn. Change is exciting, and leasing space for the first time or moving an established business is a new chapter in a company’s history. Doing some legwork now will help ensure you’ll look back at this time with good memories, not regrets.
2. WHAT IS INCLUDED IN THE RENT: Are there any special taxes, property fees, load fees, CAM or other fees? Any utilities or services (landscaping, security, etc.) are covered in your lease, or that you are required to pay on your own? If so, get them in writing. Make sure each fee is identified individually, how much each fee will cost you, and how often you will have to pay the fee(s).
4. WILL MY RENT INCREASE WHEN MY LEASE EXPIRES:
How much can your rent (and any other fees) be raised each year? What is the
maximum percent or dollar amount your rent and other fees can be raised each
year? If there is a 1% cap each year on load fees, that may sound reasonable,
but this does not mean your base rent will be capped at 1%. To make up for low
caps on other fees, your landlord may try to stick you with a 15% rent
increase.
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