Signing a commercial lease is a major commitment for any business. Whether you own a business or are considering renting space to start your business, it's crucial to ask the right questions before signing that vital contract.
It is important to inspect the premises before signing the lease to correct the irregularities raised during the inspection and to ensure the feasibility of the development project.
Who is responsible for leasehold improvements at the end of the lease?
It is important to specify the improvements and commercial equipment that will have to be left in the rented premises after the end of the lease and those that can be removed or left by the tenant.
Does the lessor offer an allowance for the fitting out of the premises?
The tenant could apply for a monetary allowance to cover part of their fitting-out expenses. This allowance takes the form of reimbursement of expenses incurred for the work up to a predetermined maximum threshold.
Is there a free period for fitting out the premises?
The lessor may grant a period of free rent for the duration of the development work. Note, however, that the lessor often extends the term of the lease by a period equivalent to the free period.
Is it possible to sublet the premises?
If the surface area of the premises no longer suits the company's needs before the end of the lease, subletting all or part of the offices may be a less costly alternative to terminating the lease early. It is important to check whether the lease contains a clause to this effect and the terms of acceptance of this sublease by the lessor.