The commercial space a business exists in can make or break the company. Texas entrepreneurs must know the elements of a fair commercial lease agreement before signing on the dotted line.
There are three primary elements of a commercial lease you should consider before signing an agreement. A bit of due diligence could protect a company’s future chances of success.
1.) Building owner and landlord
Even if a commercial space looks great, having a terrible landlord or owner could turn a dream space into a nightmare. Therefore, it makes sense for business owners to first verify whether the landlord and building owner are the same. Then potential tenants should verify the landlord’s and business owner’s financial status and whether he or she keeps up with financial obligations for the commercial space.
2.) Learning more about the area
Business owners should research their company’s potential geographic area to ensure it presents a good match for their specific services or products. For instance, it may not make sense to sell cars in an area where everyone walks or takes public transportation. Finding the ideal area may take a while, so entrepreneurs must practice patience, but doing their due diligence before signing a lease will pay off in the end.
3.) Zoning regulations
Even if a landlord or building owner gives a person the okay to open a coffee shop, local zoning laws could forbid such a business from operating on a specific site. If the entrepreneur opens the shop without looking into the most recent zoning laws, she or he could encounter extensive and expensive legal hurdles from the city. Many residents of Houston have the mistaken notion that Houston has no zoning laws. It is always best to consult a Houston real estate attorney before making decisions that can have an impact on your business for years to come.
No matter how great a commercial lease looks, the document may involve more than meets the eye. With a bit of digging, business owners can better understand every element they agree to. If you are considering signing a commercial lease and would like the expert advice of a Houston real estate attorney, the lawyers at Quadros, Migl & Crosby can help. Call today to set up your consultation.