Retail Leasing
What factors should I consider when searching for retail space?
Consider your business needs (size, location, budget), target demographic, foot traffic patterns, and proximity to competitors.
What are some key things to negotiate in a retail lease agreement?
Negotiate rent, lease term, permitted uses, maintenance responsibilities, renewal options, and potential allowances for renovations or signage.
Can a retail space be customized to fit the needs of my business?
Depending on the lease agreement, tenants may have the option to customize the retail space to suit their specific requirements, subject to landlord approval.
Who is responsible for maintenance and repairs in a retail lease?
Provision created to maintenance and repair responsibilities are outlined in the lease agreement. However, landlords are usually responsible for structural repairs and common area maintenance, tenants may be responsible for maintaining the leased premises.
What type of lease structure should I offer for my retail space?
Consider factors like the location, operating costs, and the type of businesses you want to attract. Gross leases offer predictability, while net leases can shift some responsibility to tenants.