If you’re looking to lease commercial property for your business, you’ll need to sign a contract with the property owner. These documents can often be confusing or overwhelming for those who are new to commercial leasing. Having an attorney look over them is always advisable, but it’s also important to know some of the basic terms that are likely to be included.

A Guide to Commercial Lease Terminology

1. Premises Clause

This section of the contract explains the space that you’re renting. This might seem obvious, but it’s important to go over the specifics with your attorney. For example, you might be renting an entire building, a single floor, or a specific set of rooms or offices. It will also cover whether or not any additional equipment or features are included in the lease.

2. Term Clause

This explains the period of time that your lease is active. It should include the start and end dates of the current agreement. It will also go over what can change after the lease term. For example, some landlords only increase rent prices after the initial lease period, while others allow for shorter lease terms after the agreement is signed.

3. Rent

You likely know this term already. However, there are some specifics to look for when it comes to commercial lease agreements. Check if any extra fees are included on top of the base rent. For example, some landlords charge a management or administration fee. Also, note if there are any parts of the contract that specifies whether or not rent can increase and when. Some commercial property owners increase rent annually, while others offer a longer period where you’re locked into a single monthly rate.

If you need a reliable attorney to look over your contracts, contact The Law Offices of Conti, Levy and Salerno, LLC.. Based in Litchfield County, CT, the law firm is equipped to handle many areas of the law, including real estate, family, and criminal law. With more than 75 years of combined experience, each attorney is well equipped to help you understand your case and achieve a positive outcome. They also offer free initial consultations. To speak with a lawyer, call (860) 482-4451. Visit them online to learn more about their services.