Signing a commercial lease for premises can cost a new shop owner dearly if they are not aware of their rights. These are important considerations when you see what the difference can cost you.
Age does matter
Before committing to a shop lease, ask about the age of the building and what maintenances have been undertaken. Most people tend to neglect this point or focus of questioning to their own detriment. Older buildings might have limitations as to structural changes. These often mean that new kitchen equipment cannot be installed or renovations cannot be made. It is , therefore, a wise idea to avoid any future surprises, which might also include damping.
Descriptions that leave nothing to the imagination
The lease agreement needs to have an accurate description of the premises, its size, location and ask for a floor plan if one is not included. Ask about access to restrooms, passages and emergency exits. Ask what percentage is charged for increases yearly, and if rental is fixed or based on letting area. A tenant has seven days after moving in to note defects and bring them to the landlord’s attention.