Getting an office space lease can be a complicated process especially if you do not check the provisions in your contract. Remember, knowing the Terms and Conditions can save you from trouble and unnecessary costs in the long run.
- Charges for building repairs costs, insurance premium, property taxes, and other building expenses can increase during your lease term.
- Your landlord can terminate your lease contract without a valid reason.
- There are disclaimers stating that building repairs are being rendered to the tenants.
- There are lots of restrictions in using your office space.
Your Office Space Lease – A Binding Contract
A signed lease is a non-cancelable agreement so be sure that you have reviewed all your lessor’s Terms and Conditions before placing your signature. You need to check out if your lessor has provisions in case unexpected incidents happen.
For instance, what happens if you may be forced to give up the lease because of financial reasons? Would you be able to sublease the space to avoid defaulting on your lease?
Subleasing the office space you previously rent can save you from repayment obligations in case you decide to shut down the business. However, if the subtenant fails to keep up with the lease, you will still be responsible for the payment.
Breaking Your Office Space Lease Agreement
If these violations include terms and conditions that affect the operations of your business, then you have every right to question your lessor. Speak with your lessor and point out the stipulations in the contract that were clearly violated.
Your lessor can take action to straighten out the situation or change the lease terms according to your wishes. If you have reached an agreement, you can save yourself the hassle of having to pursue legal action. To make sure that your rights as a tenant are protected, consult a business attorney.
Nevertheless, disputes can be avoided by examining the terms of your lease contract right from the start. Consult a business attorney to make sure that the stipulations are legal and fair. If you have signed up a contract that contains unreasonable provisions, you may find it very difficult to complain and demand changes.
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About the Author:
Melanie James has spent the last 14 years working with businesses to implement quick, effective and inexpensive changes to their businesses to increase productivity and their bottom line.