Leasing Commercial Property Overview
Trying to locate the best location for your new business takes time and effort. Before you begin pounding the pavement, read along as FindLaw has put together important information for your to consider when going on a real estate hunt. Simply put, a commercial lease may be the best option for new business because:
Most of the time, buying commercial property is not even an option for a new business.
What factors should I consider when I find commercial property to rent?
Every business will have different needs to consider when when trying to find commercial property to rent. A retail business, for instance, will probably consider location as the most important factor, while location is less important to a business with very little in-person contact with its customers. Think about the following when choosing commercial property:
Are there important differences between a commercial lease and a residential lease agreement?
A commercial lease is an agreement between a landlord and a business for the rental of commercial property. There are several important differences between a residential lease and a commercial lease agreement. The differences include:
What terms should a commercial lease include?
It is important to put the terms of a commercial lease agreement in writing. A lease agreement should include terms that address the following issues:
A landlord may be willing to renegotiate many of these terms when a lease ends, especially in poor economic times.
How do I find out about zoning for a commercial property?
Zoning ordinances regulate the use of property. Commercial zoning regulations control the type of activity permitted and the type of businesses that can occupy a zoned district. Zoning is categorized as residential, commercial, industrial, agricultural, and recreational. Cities, counties, and municipalities enforce zoning ordinances and may allow areas of mixed use.
Before signing a commercial lease agreement, determine whether the zoning for that area will allow the intended use. A business can find applicable zoning ordinances by checking with the department of the local government that handles zoning issues. It is also important to find out whether zoning regulations restrict the number of similar businesses allowed in a specific area, whether a conditional approval requires the business to meet certain requirements, and whether regulations will require the business to provide more parking.
Getting Solid Legal Advice
As you are narrowing down your commercial real estate options, give yourself the peace of mind you deserve. Speak to a business and commercial law attorney today to help you understand the law and discover the perfect location.