The Tenant’s Checklist2021-10-25T11:56:54+00:00
The Tenant’s Checklist
Suppose that you want to open a spa in a retail center. The landlord will ask you to sign a lease, which was drafted by an attorney and is quite favorable to the landlord. Beware. Some common terms that should be negotiated on your behalf include:
- What is the landlord’s right to raise the rent?
- What are the renewal terms?
- What if you want to expand?
- What happens if you can’t pay the rent?
- What if your customer is injured in the parking lot?
- Is there designated parking for your customers?
- What type of sign can you use?
- Can you avoid a personal guarantee?
- What if your property is damaged because of a roof leak?
- What type of alterations can you make?
- Will the landlord agree to not lease any business that cuts hair or offers manicures?
- Have you read the center’s rules and regulations?
- Who pays for maintenance and utilities in the common area?
- Will the landlord deliver the premises “broom clean?”
- Can you negotiate a tenant improvement allowance?