There have been a few times in my life that I have needed a lawyer, and during those times, their help was invaluable. I worked with lawyers during the custody battle for my kids, when I dissolved the partnership for my business and after I suffered an injury at work. In this blog, I plan to write about the law from a range of angles. I may share posts inspired by my personal experiences, what's popular in the news or what strikes my fancy when I'm writing. I have a daughter, Oliva. I manage a medical clinic, and I love blogging. I hope you like the results. My name is Melinda, and thanks for reading!
Leasing a commercial property means you have tenant rights, and the agreement with your landlord is legally binding. Such leases have several advantages, including minimal moving costs, flexibility, reduced capital expenditure, low monthly occupancy expenses and etc. This piece explores a few issues you must consider before signing a commercial lease.
Know The Area
Your research must include a detailed and thorough analysis of the area. The property is part of other properties that create an environment. This environment affects your business in different ways. For example, ask yourself if your clients can access the area. Question the impact of competitors across the street or of being close to your suppliers and raw materials.
Your knowledge of the region is also essential in determining the kind of supply chain your firm adapts. For example, proximity to transport hubs like airports and roads helps you efficiently distribute your products. You must also consider whether your target market is businesses or individuals and select an area with such a market.
Know The Landlord And Property
Take time to understand your landlord, as your knowledge can help you predict the type of relationship you two have in future. For example, is the landlord financially stable and able to make various payments? If the landlord can make mortgage payments in time, you can avoid inconveniences such as eviction caused by foreclosure. Therefore, take time and do your research.
Knowing the property is equally as important as studying the landlord. For example, the landlord might assign you a space for your nightclub business. Still, the nuisance and environment laws from the municipality do not allow the property to have such a business. Therefore, pay attention to all issues that affect your usage of the targeted property before signing the commercial lease.
Know The Zoning Regulations
Zoning laws ensure that an area has commercial, residential and other properties arranged efficiently and conveniently. For example, the local council might create a zoning law that ensures the proximity of companies and industries that complement each other. Therefore, these laws significantly impact the type of commercial property you lease.
The best method to study zoning laws is to consult the local council. The council administration can tell you if your targeted property fits the business. Breaching such laws exposes your firm to litigation and losses, especially if you sign the lease agreement. Therefore, take time to select properties that meet the zoning laws which affect your business in the locale.
Explore the area, landlord, property and zoning laws before signing the lease. This research will prevent litigation and expenses and ensure a great relationship with the landlord, customers and neighbours.Share