Leasing new space is an event that can have major implications for any business. If a company leases space that ultimately turns out to be unsuitable for all its operations, or if the lease does not allow for expansion, the growth of the company can be unduly hindered. If too much space is leased, the company will end up wasting limited cash resources.
Lease documents can be sophisticated and complicated contracts. A great number of points beyond rent and square feet can directly and adversely affect a business tenant down the road. Conversely, a lease that provides a tenant with the right type of space and flexibility as the tenant’s needs change can become an asset and provide a competitive advantage.
A prospective tenant might want to consider the following when entering into a lease.
Author: Joseph G. Hadzima Jr.
Source: Boston Business Journal
Subjects: Operations, Small Business
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