Before you lease a building for your business, there are a few points you need to keep in mind. For instance, you need to be aware of the various types of leases that are applicable for a business before you find a commercial space for lease in Woodbridge, VA.
Types of Commercial Leases
- The lease document is the medium through which contact is established with the property owner or their representative.
- If only a part of the entire property is leased out, then it is known as a sublet. However, this type of lease is inefficient for businesses, and most landlords avoid a commercial sublet lease.
- Before signing a sublet, understand all the terms as the property usage can be complicated.
- In a full-service lease, you are required to pay all the charges included in the lease.
- However, in a net lease, you are partially responsible for insurance and other charges, in addition to the lease amount.
- With a modified-gross lease, a pre-decided amount is paid to cover the maintenance and other charges.
- A percentage lease is where, apart from the lease amount, you need to pay a part of your gross profits.
Which Lease Is Suitable for You?
A growing business will upgrade at regular intervals. So consider your long-term requirements before you determine the best lease type. The lease agreement should allow you to expand and acquire more space as your business flourishes. The finances of the business also play an important part in determining the best lease type, as every lease requires a different amount of lease payment.
When you are looking for a commercial space for lease in Woodbridge, VA, it is best to hire an expert to determine the best lease type for your business requirements. They can guide you with what to include in the lease, uncover hidden costs, and negotiate to provide you with a fair deal.
What You Should Know About Commercial Space for Lease in Woodbridge, VA
- Commercial leases are usually for more than three years, which is longer when compared to residential leases.
- Both the client and the landlord look for their best interests when drafting the lease agreement. Hiring professional help can get you more out of the lease and benefit your business.
- Apart from the lease amount, you might be charged a prepayment fee. Before you sign the lease, determine how much fee you can pay according to your budget.
- Paying of maintenance and renovation charges should be clarified in the lease right from the start. This can prevent unforeseen expenses on your part.
Lease documents are best understood by real estate experts. If you require our assistance in determining the best lease type for your business, fill out the contact form on our website, and we will reach out to you soon.