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Knowing the possible costs of commercial leasing

On Behalf of | Dec 29, 2020 | Business And Commercial Law

Many business owners may feel that one of the most vital aspects of running a successful enterprise involves choosing a favorable location for their companies. While some owners may favor the idea of buying a property lot, in some cases, the idea of leasing a space may seem preferable. Prior to signing an agreement, owners in Florida might benefit from knowing each of their commercial leasing options and the possible costs involved.

When it comes to leasing a commercial property, one available option could include seeking to sign a full services lease. This type of lease typically comes with an obligation to pay a set amount for rent, while responsibility for other expenses, such as maintenance and taxes, may fall to the landlord. Net leases refer to arrangements in which a business owner might be responsible for also paying a portion of building expenses, and this option comes in three different categories, which include single, double and triple net leases.

Another option is a modified gross lease, in which the percentage of the building taken up by a business may influence the amount of financial responsibility the lease carries. Percentage leases offer owners the option to pay a base rent payment while agreeing to also pay amounts equal to an agreed-upon percentage of company sales. Each of these and all other available commercial leasing options may come with their own set of possible advantages and disadvantages, and understanding what is at stake could be vital to making an informed decision prior to signing a lease.

In addition to choosing a type of commercial leasing to pursue, it may also be possible for business owners to negotiate rates and terms. Individuals who are seeking to lease a commercial property could choose to consult with an attorney for advice on all their options prior to deciding on a path forward. In doing so, a person in Florida could gain much-needed insight on weighing the options and assistance in seeking an arrangement that best aligns with the needs and interests of his or her business.