General

Leasing commercial space? Beware of these 4 rent-related issues

One of the top concerns people have when it comes to leasing property is how much they are paying in rent. Tenants want to be sure they can afford rent and are getting their money’s worth; landlords want to make money and ensure their expenses are covered.

However, there is a lot more to rent than the amount paid in a check every month. In fact, contentious legal battles can arise from a number of issues related to rent. If you rent or plan to rent commercial space in Florida, you should be aware of these issues, some of which we examine below, before you sign anything.

1. Automatic rent increases: Your lease should spell out any automatic rent increases that may be imposed throughout the life of the agreement. If they seem unrealistic, arbitrary or unfair, you will want to address them.
2. Methods of resolving unpaid rent issues: Some leases may include arbitration clauses or something similar which dictate how disputes must be resolved. This may or may not be desirable, so pay close attention to these clauses if they exist.
3. Possible rent deductions: It is crucial that you get in writing any agreement regarding rent deductions for property improvement. If this is not in a lease agreement, you could wind up paying more than your fair share.
4. Not receiving services you pay for: If your rent is supposed to cover utilities, parking lot maintenance, security or other services, then make sure you are receiving these services.

When you are leasing commercial space, there is often a lot on the line, including the operation of your business. While it may be easy to think only about the total rent payment every month, understanding the details of your rent can help you avoid costly, bitter disputes down the line.

If you have any questions or concerns about rent or any other clauses in a commercial lease agreement, it can be a good idea to consult an attorney before signing anything.

Tue Aug 28, 7:42pm