7 Things to Consider Before Signing an Office Lease Document

| October 2, 2015

7 Things to Consider Before Signing an Office Lease Document

Most people aren’t as careful when they lease office spaces as they are when they purchase them. They think that because they won’t own the property and won’t be shelling out large amount of money, they don’t need to be as careful. Unfortunately, that’s not the case. Industry experts say that you might need to be more careful when you lease than when you buy. Regardless of the circumstance, you’re using someone else’s property and will have to follow a set of rules.

Here’s a list of things you need to think over before you actually decide to sign off on an office lease.

1. Take your Time

Most experienced renters will tell you that you need to take your time. It’s best to remove desperation from the equation. When you purchase a commercial property, you think in terms of months, if not years. When you rent, you’re always in a hurry. When you’re in a hurry, you miss important things that shouldn’t be missed. It’s best to take your time and consider each property carefully before you sign the office lease. You need to be sure that you’ll be comfortable there.

2. Don’t Sacrifice Comfort and Security

It’s very easy to make that decision in the beginning. You might think that saving a few hundred dollars by renting a place in a less-than-stellar neighborhood is worth it, but it never is. It’s best to pay a few hundred dollars extra to open up your business in a thriving neighborhood.

3. Pay Attention to the Fine Print

One would think that this is a no-brainer but a surprising number of people don’t really read the lease document thoroughly before signing it. That’s one of the worst things you can do. There are several landlords who’ll add different conditions or clauses without discussing it with you. The best way to avoid this is to scan the fine print carefully before signing. Once you sign, there’s very little you can do about added clauses or conditions that you didn’t know about.

4. Be Thorough

There are several promises made by landlords before you sign the lease, especially with regards to repairs. In most cases, renters take the verbal assurance and their hands are tied, when the landlord does nothing to fix the problem. One of the best ways to deal with this is to get everything in writing. Place all your conditions for moving into the house on a document, and have the landlord sign it. This makes those promises legally binding and your landlord will have to fulfill them.

It always pays to be more careful when you’re renting an office. Always try to get the best information possible regarding the property before signing the lease.

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