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August 16, 2019
Key Commercial Leasing Terms Every Lessee Should Know
If you do not have enough space to start your business the quickest and the most affordable way to get it is by leasing. Commercial leasing can be very expensive especially when you do not know the term and conditions of their operation. Below are some of the commercial leasing terms that you should know and you will have an easy time as a lessee.
The first thing that you need to know is the commercial area of maintenance. Here are the common maintenance fees that every tenant is expected to pay. Public areas like elevators, walkways, and others are repaired using the common area maintenance fee that every tenant is paying. This fee is common in multi-tenant buildings such as the strip malls and office facilities.
The other thing that you need to know about commercial leasing is the turnkey. A turnkey property is ready and you do not have to do anything before moving in. The floor of the building, plumbing, painting and even the wiring of the building is done. In case you want somewhere that you can move in very first, this turnkey property is the best as it is ready unless you want to make some changes. This will be the best option for you if you do not have much time and money as you relocate, you can learn more about turnkey property fro the internet.
The other term that you need to know about commercial leasing is the rentable and usable square feet. Rentable and usable square feet refers to the space that you are renting. Rentable square feet is the space in the building that is used by all the tenants in the building. This space may include the restroom, hallway, stairwells, and others, click here for more.
A full-service lease is the other term in commercial leasing that you need to know more about it. The maintenance fee is not paid by the tenants as in the case of common area maintenance fee. In the monthly rent, the tenants pay for the maintenance cost indirectly through the adjustment of rent to match the maintenance cost. Ensure that the lessor can be trusted to offer repair and maintenance on time, click here to see some of the reputable commercial leasing companies. The terms used on commercial leasing can be confusing and sometimes you miss the information that you needed to know, read more now the terms used uncommercial leasing in this page. The terms explained in this article will help you greatly as lesser to learn what is expected of you and the role of your lessor.