Essential Commercial Leasing Terms You Need to know

Aug 2 · 2 min read

Commercial leasing is the best option you have if you have outgrown your current store and you need more space. Commercial leasing can be very expensive especially when you do not know the term and conditions of their operation. The following are some of the things that you need to know about commercial leasing .

You should know that there is a common area of maintenance of every lessee. You are expected to pay the common area maintenance fee like every other tenant. The shared space like walkways, elevators and also the landscaping of the building is repaired and maintained by the money gotten from common area maintenance fee. The common maintenance fee will be there if you are leasing in a multi-tenant building.

As a lessee, you should know about turkey in commercial leasing. You do not have to do anything to the turnkey property because they are ready for you. There will be no need to paint, do plumbing of the building and other as they are already done for you. Turnkey property is the best option for someone who is in a hurry to relocate as the building is ready for use unless you would like to adjust some things. Turnkey property best fits people who do not have much time to move in or to make some adjustments in the building, read more about a turnkey property from the internet. To gather more of these ideas, click here to get started.

You also need to understand about rentable and usable square feet. The two terms are used to refer to the amount of the space that you are leasing. All the tenants in the building can access the rentable square feet. This space may include the restroom, hallway, stairwells, and others, click here for more.

The last thing that you should know about the commercial leasing is the term full-service lease. In the full service’s lease, the tenants do not have to pay the common area maintenance fee. The landlord is the one that caters for the maintenance although the tenants contributed to it through their monthly rental fee. You need to be careful here about the reputation of the lessor or the company to avoid delayed repair and maintenance. Read more about the term used in commercial leasing to avoid misunderstandings. The terms explained in this article will help you greatly as lesser to learn what is expected of you and the role of your lessor.

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