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.