Commercial Real Estate

Written by Patricia Skinner
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Define Your Commercial Real Estate Needs

Whether you want to rent or buy commercial real estate, it's vital to pinpoint exactly what your commercial needs are before you begin the acquisition process. The very success of a business may depend upon the right commercial real estate being found that it is a huge responsibility. To begin with, you need to ask how long you visualize occupying the premises.

You'll almost certainly plan for growth of your business. If your business develops at the rate you hope, or even better, will this commercial real estate still accommodate you comfortably? Will you be able to hire or buy nearby units nearby if you foresee that this might be a necessity?

What Happens if You Break a Commercial Real Estate Lease

If you are renting commercial real estate, check what will happen if for any reason you have to break your lease. This can often lead to heavy penalties, and if you feel that you may not be able to complete the term, you should at least know what you may be letting yourself in for. Breaking a lease could even lead to legal action and this could be even more disastrous for your business.

If you are acquiring commercial real estate in a building where there are other tenants, do make sure that your business is compatible with theirs and vice versa. Check the terms of contracts or leases very carefully before proceeding. Commercial real estate is prone to the type of clause which allows a landlord to increase rent without consultation. Check to see if you'll be obligated to maintenance or tax payments.

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