Jump to Navigation
We can handle your closing anywhere in the state.
Subscribe to This Blog's Feed

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

No Comments

Leave a comment
Comment Information
Tell Us About Your Transaction

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

Visit Weeks & Irvine at One of Our Six Locations

North Charleston office 8086-B Rivers Avenue
North Charleston, SC 29406
Phone: 843-553-9800
Toll Free: 800-553-7449
Fax: 843-553-9804
Maps and Directions

Mt. Pleasant office
1100 Queensborough Blvd, Suite 102
Mt. Pleasant, SC 29464
Phone: 843-856-9800
Toll Free: 800-553-7449
Fax: 843-216-0930
Map and Directions

Mt. Pleasant North office
3040 Highway 17-A North, Suite B
Mt. Pleasant, SC 29466
Phone: 843-388-3250
Toll Free: 800-553-7449
Map and Directions

West Ashley office
873 Orleans Road, Suite 102 1/2
Charleston, SC 29407
Phone: 843-571-2996
Toll Free: 800-553-7449
Fax: 843-571-2998
Map and Directions

Summerville office
106 West 7th North St
Summerville, SC 29483
Phone: 843-875-7111
Toll Free: 800-553-7449
Fax: 843-875-7721
Map and Directions

Goose Creek office
567 Crowfield Blvd.
Goose Creek, SC 29445
Phone: 843-553-9100
Toll Free: 800-553-7449
Fax 843-553-9183
Map and Directions