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Commercial leases and your right to negotiation in South Carolina

Commercial leases interestingly don't have standard agreements. It's normal to have to negotiate the lease's terms and agreements. As a business owner, this may seem like a huge benefit, but if you don't negotiate the terms well, you could be left with unfair terms in the future. For that reason, it's important to have legal guidance while you determine your leasing arrangement.

Before you rent a particular unit, remember that the rent is going to have an impact on your company. If the property itself needs repairs or if the business is in an empty retail lot, you may be able to get a lower rent per month or annually. There may be other costs that aren't included in your rent, like the price of electricity or gas.

There are a few types of leases you need to know about. A gross lease is when a landlord pays for the taxes, utilities, repairs and premises insurance for the business. Rent tends to be higher for these types of properties. A net lease is when the tenant pays the utilities, rent, repairs and taxes. With a double net lease, you pay rent but then pay the landlord for other amenities including insurance and the local property taxes. Triple net leases are the last type, and they are when you pay rent and landlord for the utilities, insurance, taxes, and repairs.

If you are confused by the terms of your commercial lease, don't sign it. You need to have it reviewed by someone who understands the law and what your landlord can and cannot charge you. With the right information, you can choose the perfect rental agreement for your business.

Source: FindLaw, "Negotiating a Lease for Commercial Real Estate" Oct. 17, 2014

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