Common Misconceptions About Leasing a Commercial Space
thebalancesmb.com Lease terms can be confusing, and Ali Ata points out that it's easy to get caught up in the myths about leasing commercial space. Below, he shares some common misconceptions and the truths behind them: Misconception #1: Longer lease terms are always better. Truth: It will depend on your business needs and goals. If you're looking for stability and predictability, a longer lease term may be the way to go. On the flip side, if your business is growing quickly and you anticipate needing more space soon, a shorter lease term may give you the flexibility you need. Misconception #2: You should always negotiate for a lower rent price. Truth: Again, it will depend on your situation. On the one hand, if you're looking for long-term stability, paying a slightly higher rent may be worth getting a longer lease term. On the other hand, if you're only planning on being in the space for a short period, you may be able to negotiate a lower rent pri...