A lease is an essential step for any new business owner. Whether you're opening a store, moving into an office space, or renting out production facilities, you'll almost certainly need to reserve a space for your company at some point. The world of commercial real estate can be complicated, and it can take years to find the right space. Before signing a lease, there are two basic steps to take: Conduct extensive research and be aware of common statutes found in business leases.

Vetting the landlord, determining the building owner, researching zoning laws, and getting a general feel for the area are all steps in the research process. Make sure you understand the payment structure, your personal risk exposure, the transfer structure, the landlord's desired holdover rate, and any nuisance clauses in your lease before signing. These are some important considerations, but keep in mind that typical commercial lease practices differ by state.

While doing extensive research, make sure to take the following steps:

1) Understand the Surroundings

If you're selling a product or service to the general public, analyses the area and get a good idea of your potential clientele while looking for a new property. For a small business to thrive, location is everything, so when you're looking for the right properties, take the time to find the right new home for your company. However, this process, can take two years or even longer, so plan accordingly if your current lease is coming to an end.

2) Learn More About the Landlord and the Building Owner

Learning more about the landlord and building owner is an important aspect of research that is frequently overlooked. Your direct landlord may not always be the true owner of the building. Moreover, learn everything you can learn about the landlord and building owner thoroughly. You're starting a business together, so make sure you know who they are, what their financial situation is, and whether they're keeping up with their payments.

In some states, for example, if a landlord fails to make payments to the building owner or mortgage payments to a bank, the business or tenant may be evicted in the case of foreclosure - even if the business has made all payments on time. That is just one example of how a landlord-tenant-building-owner relationship can go wrong. However, businesses can learn more about the landlord by conducting a public records search. You can also request documents pertaining to the landlord's limited liability company or business entity to learn more about whether it is a good business partner for you or not.

3) Investigate Zoning Laws

The zoning laws are another factor to consider. While your landlord may designate your space for, say, running a restaurant, you must ensure that the landlord's goals are in accordance with local laws. In some cases, a landlord or building owner may believe they can lease their space to a specific type of business, but it does not comply with local zoning laws. By aligning these two details, you can ensure that your business will be able to operate without major legal issues from the town or city in which you are located.

4) Research Nuisance Laws and Environmental Issues

One of the most important aspects of signing a lease is being able to fully operate your business once you open your doors. Many leases include extensive clauses regarding noise, odours, and equipment. Before signing anything, we recommend researching basic environmental laws pertaining to the property. Landlords frequently disregard these laws, which could be used against them.

Consult With an Expert Lawyer before Making Any Decision

Commercial leasing lawyers offer a specialized range of critical services to landlords and tenants who are about to enter into a commercial lease agreement. If you are unsure what to do with your lease agreement, having the assistance of a lawyer is always beneficial.

North Start legal services is a forward-thinking commercial and property law firm based in Gettysburg, PA. Unlike other law firms, we are motivated by innovation, ideas, and results rather than legal traditions. Our expert’s Real Estate Lawyers in Gettysburg, PA is available to assist you with commercial conveyancing, company law, intellectual property disputes, and franchising. To schedule a consultation, please contact us right away.