Tips to leasing commercial property
Leasing a commercial lease property is a very lucrative option if it is under proper knowledge and guidance for the person who advises and the person who leases.
Following steps must be taken for getting better lease options.
- Take the help of various brokers, accountants, and advisors to let you know whether the leasing option is lucrative or not concerning taxations, cashflow implications. rentals etc.
- After having decided that leasing is to be taken, then identify the approach of lease, gross or net lease.
- Have a proper study at lease agreement, hire brokers and lawyers as they will let you know all the legal terminologies, guidance, rights, and obligations on that property.
- Decide the rent, the duration of the lease (short term, long term and renewal options with the short term can be a better option, comparison analysis is a must)
- Have a review of nearby properties to have proper negotiation skills that are genuine and reasonable to deal with.
- Have a look at the entire cost of lease rentals, the taxes, the fees, and maintenance costs mentioned in the legal rent agreement.
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