Real Estate 101: Ali Ata's Tips on Commercial Leasing

 

Ali Ata Expounds on Key Details Regarding Commercial Leasing

 


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Ali Ata emphasizes that business owners signing a commercial office lease should do due diligence. They should know the rules and regulations. They should also establish a favorable tenant-landlord relationship. Signing a commercial lease is always a serious commitment. It should involve receiving counsel and advice from experienced business owners renting offices or warehouses. 

On that note, Ali Ata shares some expert tips if you're planning to lease a commercial space. 
 
First, you should never forget to pay real estate taxes. 

In commercial leasing, one should understand both the proportion of the building real estate tax they’ll pay as well as what happens when the rate goes up. A landlord, for instance, may increase one's portion of the tax above what is proportional to the tax hike. 
 
Next, you should always check rate fluctuations. 

Checking any history of changes in the lease rate will help your business avoid nasty surprises. You should also make sure that the terms of any rate increases are clearly and explicitly spelled out in the contract. 
 
Also, Ali Ata says that as much as possible, never negotiate alone. 

It's best to hire a broker to represent you and work in your best interest. The brokerage firm should have years of experience in the desired market. Because of this experience, they closely understand one's office space needs. 
 
Then, you should always have reasonable "out" clauses in your agreements. 

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Ali Ata mentions that as a tenant, there are two must-haves, an "option to sublease" and an "option to sell the business and signage." You should also have express written permission, in that the landlord may require it. Another is a shorter-term lease with options for renewal. 
 
Finally, you have to avoid signing a standard lease agreement. 

Negotiating, as opposed to just signing a standard lease agreement, is often wise. Doing so avoids putting future business decisions in the hands of the landlord, according to Ali Ata. 
 
Ali Ata has written a series of articles on real estate. Access the posts here.

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