1. Lease Term:
Ensure that the lease term aligns with your business plan. Longer terms may provide stability, but shorter terms offer flexibility.
2. Rental Rate and Payment Terms:
Understand how the rent is calculated and the schedule for payment. Be aware of any rent increases over the lease term.
3. Security Deposit:
Know the amount of the security deposit and the conditions under which it can be deducted.
4. Maintenance and Repairs:
Clarify who is responsible for maintenance and repairs of the property and how maintenance issues will be addressed.
5. Lease Renewal Options:
Explore your options for renewing the lease and any associated terms or conditions.
6. Insurance Requirements:
Comprehend the insurance coverage required and ensure you are in compliance.
7. Common Area Maintenance (CAM) Charges:
Understand your responsibilities for paying CAM charges and how they are calculated.
8. Permitted Uses and Restrictions:
Be aware of any restrictions on how you can use the leased space and if any modifications are allowed.
9. Assignment and Subletting:
Know whether you can assign or sublet the space and what conditions apply.
10. Exit Strategy and Early Termination Options:
Consider your options for terminating the lease early and the associated costs or penalties.