Commercial Leases - What You Need to Know Part IIII

Last week we discussed commercial neighbors and insurance needs when it comes to commercial leasing. Now we are on the last stretch of some of the major considerations when entering into a lease 

7. Moving into your new space:

It's moving day but is your new space ready? Your lease should have a solid move-in date listed so there is no confusion. Especially if the space is occupied by another tenant that is moving out. 

Some other areas that you need to cover on your own:

  • Schedule the appropriate date for phone, internet and/or cable to be hooked up and on when you move in.
  • Don't wait until the last minute to schedule a moving company. They can be scheduled out for 30 or more days. 
  • If you are responsible for cleaning the site before you move in, make sure you have a cleaning company scheduled for the right times to go in. 
  • Submit a change of address with the post office. 
  • Updated all of the directories that have your physical address listed. (especially your website)

8. Moving out of your old space:

If you are moving out of another commercial property, make sure you follow the lease termination items listed. For example, do you need to provide a 30-day notice and are you responsible for cleaning? Will your former landlord know where you are going to forward mail or possibly lost customers who don't know your new locations? Leaving a commercial space and landlord on good terms is always the best plan. 

Again, this post contains many topics to anticipate, plan and understand. There are many other details left out that are specific to each situation. But no matter what, you should always involve your hated lawyer/attorney. You will likely also want to involve your accountant and IT people.

In the negotiations, the landlord and especially the landlord’s real estate agent may present you with a “simple” proposed agreement. The agent may say that the provisions are “standard” or “normal” or “routine”. Remember the agent/landlord is not your advocate. In almost any possible agreement negotiation, if the agent on the other side speaks these buzzwords of “standard” or “normal” or “routine”. … those are red flags. That is why involving your hated lawyer is so important to you. 

Remember, your business success is my primary goal for you!