We often ask our clients, “what do you wish you would have known as you were starting that you know now?” Our clients at The Port Bar recommend negotiating a good lease. We’ve heard from many of our clients how important their lease agreements are for the success of their businesses. Here are some tips to consider as you think about your lease:
Leases are Legal Contracts
When signing your lease, treat it as seriously as you would treat any legal agreement. You can ask for help in reviewing it, and it’s important to understand all the terms outlined in your agreement before you sign.
You Can Negotiate
Your potential landlord may be willing to negotiate, so if a term of the lease doesn’t work for you, you may want to propose alternatives. Some questions you may want to ask yourself are:
- What is the length of the lease?
- Is the rent comparable to other spaces?
- Are there hidden costs?
- What favorable clauses are included?
- What is the termination clause?