Prevent Heartache By Having a Lawyer Review Your Commercial Lease Part II – Leasehold Improvements

Prevent Heartache By Having a Lawyer Review Your Commercial Lease Part II – Leasehold Improvements

Leasehold improvements include anything that needs to be done to the space that you are going to lease in order to make it fit for your purposes. Your lease should outline who is responsible for making the changes, who is paying for the changes, and what the timeline is for getting it done. It should also make clear who is the decision maker with respect to the leasehold improvements. For example, if new flooring is to be laid do you get to decide the specific type or does the landlord.

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Prevent Heartache By Having a Lawyer Review Your Commercial Lease

Prevent Heartache By Having a Lawyer Review Your Commercial Lease

I recently came across a story in the news highlighting the unfortunately common situation where a small business owner is facing financial disaster as a result of terms in their commercial lease they didn’t fully understand when they signed.  Cash flow challenges are reality for most small business, particularly those in the start up phase.  As a result, many view spending money to have a lawyer review what appears to be a standard lease is a luxury they can’t afford.

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