6 Tips for Negotiating a Commercial Property Lease without Getting Burned
While residential leasing often places the burden of maintenance and upkeep on the shoulders of the landlord, commercial leases are different. Just because the landlord owns the building, it would make sense to believe that they are responsible for repairs and upkeep – this is not the case. Commercial leases vary in their approach to this – some stipulate that the tenant is responsible for all property upkeep and repairs while others specify that the tenant is responsible for systems such as the air conditioning, plumbing , etc. Check your lease – in addition to stating who is responsible for what it may also contain dollar limits on how much the tenant must pay for maintenance and repair. This 2011 article from SBA was useful this past week.