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Category : Commercial Lease

Renewing Your Lease? Consider This First!

Renewing Your Lease? Consider This First!

Need to Renew?   Renewing a lease can be a pretty overwhelming and complex situation for corporate tenants who are accustomed to simply doing their job and not worrying about real estate.  While that’s tough, it’s also a way to learn what the current market is doing and how the current position of your business can determine whether you can negotiate better lease terms moving forward. When yo

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Is A Personal Guarantee for Me?

Is A Personal Guarantee for Me?

When entering into a commercial lease, the Landlord often requires a personal guarantee from the business owner, even if they have formed a corporation or LLC, and may refuse to rent the space without one.  This means that the guarantors will make the lease and other payments if the business fails. Landlords often ask for a personal guarantee from start-ups and other small businesses.  Read very ca

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Should I Get My Lease Reviewed?

Should I Get My Lease Reviewed?

Regardless of your industry, one of the first and most important agreements you’ll likely sign is a commercial or industrial lease agreement for your business. A lease agreement is also sometimes called a rental agreement. A clear and well-defined lease agreement helps both tenants and landlords understand their obligations and protect their interests. When leasing a space, it is important to do your due d

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Your Lease Should Protect You

Your Lease Should Protect You

Although you do your best as a small business owner to forecast revenue and expenses, sometimes there are extenuating circumstances that affect your business’s success or failure. Since leasing office space spans such a long gap of time (relative to the small business cycle), is legally binding and commits capital over a period of time, it is inherently risky. Using a worst case scenario (terminating your l

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Negotiation Mistakes You Should Avoid

Negotiation Mistakes You Should Avoid

The main risks to consider when leasing a commercial office space is time, money, and risk You must understand which location is going to yield you the best rate and terms. You also want to avoid choosing a bad location or making an erroneous operational decision.  Furthermore, you need to keep in mind what your options are in the event that your business needs to expand, contract, or relocate.  Yo

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Creating Leverage in Lease Negotiations

Creating Leverage in Lease Negotiations

Are You Creating Leverage? In order to get the best deal when looking for commercial space, be sure you are creating leverage in your lease negotiations.  Hiring a broker is the first step you can take toward creating leverage. For example, you can go to the grocery store to purchase milk and notice the price says $2.99.  You can't take that jug of milk to the cashier and ask to pay $2.00 instead.&

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What is Tenant Improvement (TI) Allowance?

What is Tenant Improvement (TI) Allowance?

Almost every tenant of a commercial space will need to make some changes or improvements to the space to make the space work for them. Of course, the extent of needed improvements will vary depending on whether the space in question was previously occupied, how old the existing improvements are and whether the prior uses and if the new contemplated uses are the same. A new building that has not been previousl

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So…What is in My Commercial Lease Anyway?

So…What is in My Commercial Lease Anyway?

Landlord and tenants sign lease agreements when renting property. What is included in this lease will vary. However, there are certain basics you should know about lease agreements in general. Leasing business space is a major obligation.  The successes or disappointments of your business may ride based upon specific terms of your rental agreement so it is important to gain a basic understand of commerci

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