Important Provisions In A Lease Contract

It is important that you are aware of your rights and duties under the lease. Here are a number of provisions you should be aware of:

• Know your total cost. In many commercial leases, the tenant pays a base rent amount per month, plus a portion of taxes, insurance and maintenance of the building and its common areas.
• Know the building – You should know how old the building is and when major repairs to heating and cooling systems, the roof and common areas were last completed. Otherwise, you may be surprised by a bill for your share of work on these items.
• Know who is responsible – The tenant named in the lease should be your business entity, which is the party responsible for making the lease payments.

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