Don’t Sign Your Lease If You See These Red Flags

frustrated business ownerChoosing the right building is essential to growing your business. As you narrow your search for the right commercial property in the Triangle area, consider the following costs and property issues if you plan to lease the building.

You may want to avoid selecting a property that raises these red flags.

Concerns About the Property

Can your building support the technology you need? Is it in a safe location? Make sure the property you are considering does not have these problems.

Issues with the Building, Location, or Maintenance

  • Out-of-date wiring for technology
  • Deferred maintenance
  • Unfinished construction
  • Unpermitted construction
  • Egress, ingress traffic flow
  • Parking or parking lot concerns
  • Personal financial guarantee

Hidden Costs and Fees

  • TICAM charges
  • CORE charges
  • Escalation charges
  • Maintenance cost of facility and grounds

Don’t Sign Without Asking These Questions

a meetingIf the property you are considering does not appear to have any issues, dig deeper by asking questions about who handles building and common grounds maintenance, what you as the tenant will be responsible for, and what the lease agreement will contain.

Questions to Ask About the Property

  • Why did the last tenant leave?
  • What is the condition of the surrounding area?
  • What is the crime rate?
  • Do all of the windows in the building open?
  • Who maintains HVAC?
  • What does the fine print say? What does it mean?

Questions to Ask About the Management

  • Will landlord offer fit-up?
  • Is the tenant responsible for repairs?
  • Will the landlord enter at any time for any reason?
  • Will the tenant pay for maintenance/cleaning fees?
  • Does the landlord claim the right to change lease provisions at any time?
  • Will the landlord be held liable for any damages?

Choose Craft Commercial

When leasing commercial property in the Raleigh-Durham area, choosing an experienced and reputable real estate team is one of the best decisions you will make. Craft Commercial has served the Triangle’s residential and commercial real estate needs for over 30 years. If you are interested in leasing commercial property, contact our specialists at 919-446-5000 or info@craftcommercial.com.

2 thoughts on “Don’t Sign Your Lease If You See These Red Flags

  1. I like your idea to ask why the last tenant left. That’s a good thing to ask even if you’re moving into an apartment. I’m sure the answer could give you some valuable insight.

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