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IT’S IMPORTANT TO ENSURE THAT YOUR COMMERCIAL LEASE IS FAIR AND EQUITABLE TO ALL PARTIES.
Business Lease in Georgia
Understanding The Aspects of businesses leases
If you’re considering starting a business in Georgia or expanding your current one, you may need to lease commercial property.
Leasing a space for your business can be a complex and challenging process, especially if you’re unfamiliar with the laws and regulations governing commercial leases in Georgia. Here are four different factors to consider about leases:
understanding how business leasing works in georgia
Leasing a space for your business can be a complex and challenging process, especially if you’re unfamiliar with the laws and regulations governing commercial leases in Georgia. Here are a few factors to consider:
In Georgia, there are three primary types of commercial leases: gross leases, net leases, and modified gross leases. A gross lease is one in which the landlord pays for all the property’s operating expenses, including utilities, taxes, and maintenance.
A net lease, on the other hand, requires the tenant to pay for some or all of these expenses in addition to rent. Finally, a modified gross lease is a hybrid of the two, in which the tenant pays for some of the operating expenses, but the landlord covers others.
Rent is the primary expense associated with leasing commercial property. In Georgia, commercial landlords are free to set their own rental rates and terms, subject to the constraints of the market. Before signing a lease, be sure to negotiate the best possible rent and lease terms that meet your business’s needs.
Additionally, most landlords require tenants to pay a security deposit, which is intended to cover any damage or unpaid rent at the end of the lease term. In Georgia, there is no legal limit on how much a landlord can charge for a security deposit.
Commercial leases in Georgia typically run for several years, with renewal options built in. However, circumstances may arise that necessitate an early termination of the lease. In such cases, it’s important to review the lease’s termination clause to determine the proper procedures for terminating the lease without incurring penalties.
Similarly, if you wish to renew your lease at the end of its term, you should notify your landlord well in advance to ensure that the process runs smoothly.
It’s essential to ensure that your commercial lease is fair and equitable to all parties. To this end, you should work with an experienced attorney to negotiate and draft the lease agreement. Your attorney can help you identify any potential issues and negotiate favorable terms that protect your business’s interests.
“A business lease is a legally binding contract that formalizes an arrangement between a business landlord and a commercial tenant.”
– Tim Hurban
understanding how business lease works gives you the advantage
From creating business leases and contracts for you and required administration or the ability to financially secure your assets and business. We will offer you the support and guidance you need at Hurban Law.
Need to know more about your small business lease or have some tenant issues? call us today!
We are happy to provide a free 15-minute consultation session if you need quick guidance on whether a more in-depth meeting is needed. The free 15-minute sessions can be done either through a phone call or virtually.
