Possible steps to take prior to signing a commercial lease

On Behalf of | Jun 22, 2021 | business law

In some cases, one of the most vital aspects of owning and operating a company could involve finding a location that provides the best opportunity for growth. While some business owners in New York might wish to seek out and purchase land for their enterprises, others may feel more comfortable leasing a space. Since leases can be complex arrangements, knowing what to cover prior to signing a commercial lease could prove integral to protecting the future of one’s endeavors. 

Business owners who wish to find the best possible location for their companies may find it helpful to address various topics along the way, some of which may include: 

  • Room for growth:  Evaluating the area to determine if the space could provide opportunity for growth could play an integral role in choosing a location that best fits one’s needs. 
  • Awareness of surroundings:  Another aspect of finding the best location possible could pertain to examining the buildings and businesses nearby to see if the area is a good fit. 
  • Statutes and laws:  It could also be vital to seek insight on leasing statutes and zoning laws prior to signing a lease, as these could also influence one’s opportunities. 
  • Addressing the costs:  Addressing the financial components of a lease may also be imperative and some of these topics could include anything from monthly leasing costs to scenarios in which leasing rates might change over time. 

It could also be beneficial to address topics such as the length of the lease, the date of commencement and issues pertaining to damages and repairs. 

As there could be a multitude of aspects to cover, the concept of signing a commercial lease can seem a daunting task. Those who wish to protect their interests but remain uncertain of how best to approach the situation could consider consulting with an attorney for guidance in navigating the process. An attorney can help a client in New York address all the necessary topics and assist in developing a strategy that best aligns with the interests and needs of his or her company. 

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