What Do I Need to Know When Leasing a Commercial Space?

commercial space

Finding and leasing the right commercial space is essential for many businesses. Although location and price are important factors when leasing commercial property, there are other things businesses need to consider before signing a lease. To guide you through the process, our New Jersey commercial real estate attorneys explain which factors you should consider when looking to lease a commercial space.

Research the Area

Before signing a lease, it is important to research the area to ensure that it will in fact benefit your business. If you plan to use commercial space to attract clientele, you will need to make sure that the area will be accessible or convenient for potential customers (including parking). If you plan on using the space to store inventory, as an office space, or for manufacturing purposes, you need to make sure that it will facilitate all your needs.

Research Landlord & Building Owner

One of the most important aspects of leasing a commercial property is learning more about the landlord and the building owner. In many cases, the landlord is not the building owner. For such reasons, you should research both the landlord and the business owner, discover what they are like and what their financial situation is. Their responsibility with the property will ultimately affect your business.

Research Zoning Laws

Businesses should also look into zoning laws before leasing a commercial space. Although a landlord may claim that the space is set for a specific business (for example, running a restaurant), you need to make sure that the space has the permits and licenses needed to actually accommodate your business. Failing to do so could result in major legal problems with the city you are operating in.

Research Nuisance & Environmental Laws

Businesses should be able to operate their company or office at the fullest capacity after leasing a space. However, nuisances and environmental problems may arise and affect your business operations. These areas are often overlooked before signing a lease. Make sure that nuisance and environmental laws allow you to operate your business at every level.

Don’t sign a commercial lease without having an experienced attorney present. Contact our New Jersey commercial real estate lawyers today at (201) 897-4942 to schedule a consultation!