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Some of the Commercial Leasing Terms You Should Know
If you do not have enough space to start your business the quickest and the most affordable way to get it is by leasing. Commercial leasing can be very expensive especially when you do not know the term and conditions of their operation. Theses are some of the commercial leasing terms that you should know before you decide on leasing.
Common are of maintenance is the first term that you need to know. The common area maintenance fee is paid by everyone tenant. The shared space like walkways, elevators and also the landscaping of the building is repaired and maintained by the money gotten from common area maintenance fee. The common maintenance fee will be there if you are leasing in a multi-tenant building.
The other thing that you need to know about commercial leasing is the turnkey. You do not have to do anything to the turnkey property because they are ready for you. The floor of the building, plumbing, painting and even the wiring of the building is done. Turnkey property is the best option for someone who is in a hurry to relocate as the building is ready for use unless you would like to adjust some things. If you do not have money to paint or even to make some changes in the building maybe because of time, this is the best option for you.
The other term that you need to know about commercial leasing is the rentable and usable square feet. The two terms are used to refer to the amount of the space that you are leasing. The space in the building that every tenant in the building can access is referred to as the rentable square feet. This space may include the restroom, hallway, stairwells, and others, click here for more.
The other term in commercial leasing that you need to understand is the full-service lease. The maintenance fee is not paid by the tenants as in the case of common area maintenance fee. The landlord is the one that caters for the maintenance although the tenants contributed to it through their monthly rental fee. Ensure that the lessor can be trusted to offer repair and maintenance on time, click here to see some of the reputable commercial leasing companies. The terms used on commercial leasing can be confusing and sometimes you miss the information that you needed to know, read more now the terms used uncommercial leasing in this page. The terms explained in this article will help you greatly as lesser to learn what is expected of you and the role of your lessor.