Signing a lease for your business can be complicated and frightening. Worries about making mistakes are at the top of the list of things to be nervous about. Over the course of the next several blog posts, we are going to highlight some of the most commonly made mistakes during a lease signing. We hope that this information helps you not only recognize mistakes that could be made, but also help you learn how to avoid them. So remember, after reading this, look for other articles that further your knowledge on commonly made mistakes. If you're in need of affordable coin operated washers and dryers in South Carolina, be sure to call T & L for savings.
Negotiating alone is one of the biggest mistakes made during this process. While you don't have to hire a lawyer, it might be beneficial to at least work with a tenant rep broker. They can help you understand what you're dealing with. They can also help you avoid excessive costs, negotiate in your favor, and help you better understand what you may need within the space offered. Working alone during this process could lead to costly mistakes and more. We understand that working by yourself will eliminate costs that can occur with brokers or lawyers, but the mistakes made along the way might be more costly.
Standard lease agreements are often used because they're easier. There's no negotiation and the landlord sets all the standards. However, this could be less than beneficial for your business in the future. Take time to negotiate the lease. It will be a great way to protect your business.
Have you checked rate fluctuations? If not, please be sure to do so. It's important to understand that electricity and water rates will go up and down. Sometimes, landlords will double or triple costs at the end of each year. Even if you sign a reasonable rate, this can be an issue that you run into. If there are rate increases within the contract, be sure you understand them. Also, try to avoid large fluctuations in rate increases if possible.
Be sure to check back soon for even more mistakes that are commonly made during lease signings and negotiations! We will have more information for you soon.
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