As a business owner, retail tenants need the right property to ensure success. But what should be considered when renting or buying an office? Commercial real estate is subject to different legal bases than residential real estate, where lawmakers and judges often prevent excessively unfavorable clauses in leases.
This article explains what people should consider when looking for a commercial property for rent or for purchase.
When renting commercial real estate, extensive contractual freedom applies
People who rent living space can be subject to many protective laws. Thus, the rental costs must be based on local rental rates. What ancillary costs may be charged and which clauses are valid for notice periods and cosmetic repairs, all this is regulated.
In commercial real estate, it is different: here, there is an extensive freedom of contract, as far as the content, form, and cancellation of the lease. It is all the …