Costs Of Commercial Renting Go Beyond The Lease Payment Amount

Cost is understandably a big concern among businesses looking to rent a commercial property here in Michigan. The agreed-to lease payment amount plays a big role in how much renting a particularly property costs. However, there are also costs beyond the lease payment amount that businesses can face in relation to renting a commercial property.

For example, sometimes, a commercial tenant will be responsible for the maintenance and repair of some or all parts of a property during the course of their lease. Such maintenance and repair can have substantial expenses associated with it.

Also, commercial tenants are often responsible for utility expenses.

Businesses should make sue to consider all factors that could impact the overall cost of renting a commercial property, including issues regarding maintenance and repair costs and utility expenses, when making decisions related to commercial leases.

The terms of a commercial lease agreement greatly impact what kinds of extra costs a business could face in relation to renting a property. For example, how exactly maintenance and repair responsibility is divided between the tenant and the landlord and who is responsible for covering utility costs are generally dictated by such terms. Thus, when considering entering into a lease agreement to rent a commercial property, it can be very important for a business to fully understand what cost implications the agreement's terms would have. Business law attorneys can review the terms of lease contracts for businesses looking to rent commercial space and provide explanations of what the terms' implications would be.

Source: U.S. Small Business Administration, "Leasing Commercial Space," Accessed Dec. 4, 2015

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