Don’t Spend Money Until You’ve Read The Lease!

Posted by Lee Sterling | Posted in Economics, Legal, Real Estate | Posted on 05-04-2009

Read the lease before you spend any money on the new space you’ve found! It’s not uncommon to start spending money on inspections, space and decor planning, communications planning, furniture planning, and your time and staff time planning for the new space. Landlords sometimes count on your becoming so invested you’ll be forced to accept lease terms that you might not otherwise agree to. After there is agreement to the basic terms of a Letter of Intent (subject of another post to come) be sure to ask for a copy of the propsed lease! Then you can be sure that the terms are acceptable before you’ve spent your time and money!