Are you looking to start your own sign writing business, or expand your already existing sign writing business? If so, it is essential that you take the time to understand the legal considerations of entering into a commercial lease for your business. Commercial leases are not generally something that you would think about when assessing what is most important for your business, as on the face of it, it has very little connection to how you do business. However, it is impossible to take in customers and grow your business in the way you want, without an effective commercial lease. An ambiguous commercial lease will always leave you feeling insecure, as you may lose your place of business at any time, or be forced to pay exorbitant sums to remain on the property. Such problems will take away from your ability to focus on the day-to-day running on your business, leaving it to suffer.
How can I ensure that my commercial lease is effective?
The main aspect of a commercial lease that you should focus on for your sign writing business is ensuring that your commercial lease reflects the way that you want to do business. This may sound simple, however, there are a lot of moving parts to any business, and synchronising those parts with your commercial lease can be a daunting task for any business owner.
The first aspect of a commercial lease that you should take into consideration is the payment method. You should ask yourself whether or not you wish to pay in large lump sums on a monthly basis, or small sums on a weekly basis, or fortnightly. This decision will have a great influence upon the liquidity of your sign writing business, and could potentially be the difference between making it or breaking it during its formative stages. The only way to know which method of payment is best for your business is by creating a thorough business plan. In addition, after you have made this decision, it is essential that your commercial lease places it in stone. Unfortunately, many businesses are placed in a difficult financial position due signing a commercial contract that leaves the payment method open to interpretation. You should not let this happen to you under any circumstances.
Secondly, you must ensure that your commercial lease for your sign writing business specifies the use of the property for the purpose for which you intend to use it. All commercial leases require that the use of the property be rigorously described within them. Furthermore, the commercial property cannot be used for any other purpose other than that specified. This means that if you intend the property to be used for retail, you must ensure that on the commercial lease it states that the property is to be used for retail. If this is overlooked, or the use of the property is ambiguous, it could well mean that you will have to renegotiate an entirely new lease, or at worst, be forced to vacate the premises. The most effective way of avoiding this complication is by clearly communicating your desires to the owner of the property, and reviewing your commercial lease regularly.
Should I seek legal advice before signing a commercial lease?
The short answer to this question is yes, absolutely. This may not be the answer that you want to hear, however, you can rest assured that the owner of the property will be seeking legal advice, therefore, so should you. The last thing you want to do is place your entire sing writing business in jeopardy as a result of an avoidable oversight. A legal professional will be able to give you the confidence that your commercial lease will go exactly as planned. In addition, if there are ever any concerns with the lease, you will have a legal professional who is already familiar with the situation. If you would like to see how a commercial leasing lawyer from LegalVision can assist you in creating a commercial lease, please click here.
Are you looking to start your own sign writing business, or expand your already existing sign writing business? If so, it is vital that you are aware of the legal considerations associated with entering into a commercial lease. You should firstly ensure that the payment method specified in the lease is reflective of the way you want to do business. Secondly, you should ensure that the use for the property specified in the lease, is for the purpose that you desire. Finally, it is important that you seek legal advice at some stage during the process to avoid falling victim to any unfortunate oversights. If you have any further questions regarding commercial leases, please call LegalVision for a fixed-fee quote.