Samantha McDonald Writes “With commercial leases, the devils are in the details” for the Worcester Business Journal
Commercial leases vary greatly and trying to execute one on your own can be risky. Unlike residential leases, little in commercial leases is governed by statute, and there can be additional charges for taxes, operating expenses, and other costs. In her Worcester Business Journal article, Samantha McDonald suggests reviewing the lease with a savvy attorney and provides eight ideas for landlords and tenants to consider. Here is an excerpt:
Check the financials! Landlords, make sure any proposed tenant is financially solvent. Consider getting a personal guaranty. Tenants required to pay operating costs under the lease should review the last three years of such costs. Expenses can vary, so looking at a few years will give tenants a feel for potential liabilities.
Continue reading “With commercial leases, the devils are in the details” on the Worcester Business Journal website (subscription required).
Categorized: Commercial Leases
Tagged In: commercial landlord, commercial tenant, contracts, landlord and tenant responsibilities
