When a business owner looks to rent space from you, it is an important business transaction for both of you. The lease you design should be fair for everyone. It is important that you do not make the lease too restrictive or make too many demands in the lease that will push away potential renters.
It is helpful to understand some of the points that a renter may consider before signing a lease. Understanding their concerns can enable you to create a lease that is inviting and more likely to secure a tenant. The SCORE Association advises renters to ask a lot of questions before renting a space and to check over the lease for potential issues.
What the lease includes
Tenants will want to know if the rent payment includes utilities. If it does not, then you may want to provide some guidance on what they will pay. You should state in the lease specifically what you do and do not cover.
They will also look for information about repairs. They want to know if you can demand repairs that may not fit in their budget. In addition, they want to know your responsibilities as the landlord and what you will handle should there be a maintenance issue.
Non-compete
If you are renting space in a strip mall type location, your tenants may want to know information about who else will set up shop there. They may want the lease to include a non-compete agreement that says you will not rent to a similar business that could take away its customers.
Access and parking
Your tenants will also want to know the details about parking for customers and employees. They will want to understand the traffic flow in the area as well. This is important to them when looking at potential business and if the space will offer them what they need to properly secure and serve customers.