When a commercial lease is necessary for a business owner, they must understand that agreement beyond the monthly rent and duration. Some important clauses are:
Maintenance of Common Areas. Guidelines of how and by whom stairways, lobbies, sidewalks, and other areas are maintained establishes expectations between landlord and tenant and promotes cooperation.
Restrictions as to Use, Noise, or Traffic to the Location. A lease may prohibit specific businesses or limit activities allowed on the premises. A tenant should evaluate how this may its business before signing the lease.
Restrictive Covenants. A restrictive covenant in one tenant’s lease may prevent a landlord from renting to another tenant with a similar business, or may prevent that tenant from expanding its business.
A savvy business owner will understand the lease in entirely, and will seek advice from competent legal counsel on complex issues.