Friday, April 20, 2012

5 Tips for Subleasing Your Rented Commercial Property

Have you considered subleasing the area of your rental property that you don’t use? While this can help save money when it comes to your monthly expenses it will only work to your benefit if things are done correctly. If you are currently renting commercial space for your business, but are considering subleasing it keep these five tips in mind.
1.Check with your landlord as well as the terms of your lease agreement to see if you are allowed to sublease the property and under what conditions.

2.Consider if it’s a practical. Can the space, amenities, parking lot, common areas and etc. handle another business?

3.Be mindful of who moves in; be sure that both of you can function without harming your businesses’ image.

4.Hire a commercial real estate specialist and lawyer to put together a sublease agreement that is clear and comprehensible.

5.Be mindful of your business’ future needs and how soon you may need the space back.

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