When Minneapolis residents begin to make plans for a new business, they may have a vision for how they want the retail, manufacturing or industrial space to look. They may have an idea of where they want the business situated and they may even know what technical specifications the building will need to possess in order to support the business. For some business owners, building new commercial spaces is the easiest way to find the places from which to operate their enterprises. Others are able to find commercial spaces and execute lease agreements in order to acquire space for their businesses use.
A lease gives a leaseholder a temporary right to use a property. Subject to the terms of the lease, leaseholders may do what they need to do in order to see the business successfully grow. In exchange for the use of the property, a leaseholder is generally bound to pay the leasing party rent for the privilege of using the commercial space.
Some commercial lease agreements operate as simply as the scenario just described, but many do not. Many commercial lease agreements require significant negotiations in order to be functional for both the parties that own the properties and those that wish to use them. Parties may not agree on rent amounts or increases, on how long the lease should last, whether the leaseholder will be able to make modifications or improvements to the property and other terms imperative to the success of the leaseholder’s business.
Negotiating a commercial lease does not have to be a battle. In many cases getting the right information about legal options can help those facing difficult commercial lease agreement discussions.