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5 Important Things You Needs To Know About Commercial Leases Before Starting Your Business

Purchasing a property for your business requires several points to consider. You have the think about the size, location, the safety of the building and whether there are any repair costs. These are mainly aesthetic elements that you’d consider, but what about the legal aspects of purchasing a commercial property? There are minor cases where some business owners have the benefit of a large enough investment to buy a property outright, but in the majority of cases, it’ll be a rented premise that’s acquired from a landlord. Within the lease, there’ll be clauses which can benefit the tenant and some which benefit the landlord. When taking on a lease, these are the important clauses that you should look out for:

The Term Of The Lease

This is essential to any lease. If there’s no term, then there’s no lease. A commercial lease tends to average about 5-10 years but there can be flexible with your term depending on the nature of your business. A restaurant, for example, may need more than 5-10 years to grow, in which case you may wish to spread the costs out for longer. It’s all about finding a term that’s suitable for you. One thing …

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