{"id":3974,"date":"2022-02-12T03:06:19","date_gmt":"2022-02-12T03:06:19","guid":{"rendered":""},"modified":"2024-03-26T17:09:05","modified_gmt":"2024-03-26T17:09:05","slug":"leases-key-considerations-that-can-make-or-break-a-business","status":"publish","type":"post","link":"https:\/\/www.sunbeltcanada.com\/atlantic\/leases-key-considerations-that-can-make-or-break-a-business\/","title":{"rendered":"Leases: Key Considerations That Can Make or Break a Business"},"content":{"rendered":"
\"\"<\/p>\n

Are you selling a business that involves a lease? If so, this will be a factor that has significance to a buyer when you go to complete your deal. If your business relies heavily on its location and you don\u2019t own property, then you\u2019ll find the lease will be quite an important consideration for your buyer. By the same token, if you\u2019re buying a business that involves a lease, you\u2019ll want to carefully examine this document and consider how it might impact you and your business. Let\u2019s take a look at some important clauses and terms you\u2019ll want to be looking for.\u00a0<\/span><\/p>\n

Lease Transfers\u00a0<\/b><\/p>\n

What are the terms for transfer of the lease? This is something you\u2019ll want to know before signing on the dotted line if you think you\u2019ll be selling at some point in the near future.\u00a0<\/span><\/p>\n

Lease Lengths\u00a0<\/b><\/p>\n

How long is your lease? If your buyer can confirm that there are many more years on your lease, he or she will find that to be an advantage.\u00a0<\/span><\/p>\n

In the case of a business owner with a new endeavor, a shorter lease may actually be an advantage. That way the owner can get out of the lease if the business is not successful.\u00a0<\/span><\/p>\n

Competitors\u00a0<\/b><\/p>\n

If you\u2019re planning on a lease in a shopping center, it\u2019s essential to get in writing that the center will not accept other tenants that do what your business does. Otherwise, you\u2019ll be constantly faced with competing with a similar business.\u00a0<\/span><\/p>\n

Unexpected Costs<\/b><\/p>\n

It\u2019s also important to look for clauses that address what happens in the case of an adverse event. For example, if the property was destroyed by a fire, who will pay in the interim?\u00a0<\/span><\/p>\n

There are other practical considerations to consider in leases that many business owners tend to overlook. For example, how are real estate taxes covered? Will you be charged a fee to cover maintenance of the property and, if so, what is it? Is someone in particular responsible for necessary repairs and who will pay for those?\u00a0<\/span><\/p>\n

It goes without saying that you\u2019ll also want to check out clauses impacting rent changes. Otherwise, you may face unexpected rent increases that negatively impact your business.\u00a0<\/span><\/p>\n

Personal Guarantees<\/b>\u00a0<\/span><\/p>\n

If you are a new business owner, a landlord may ask you to personally guarantee the rent. This would be quite a different lease from one that accepts a well-established corporation as a tenant.\u00a0<\/span><\/p>\n

As you can see, there is much more involved in a lease than just the amount of the rent. Be sure to read your lease carefully and ask questions. A Business Broker or M&A Advisor can assist you with lease terms when you are buying a business.\u00a0<\/span><\/p>\n

Copyright: Business Brokerage Press, Inc.<\/span><\/a><\/p>\n

Otello\/BigStock.com<\/span><\/a><\/p>\n

The post Leases: Key Considerations That Can Make or Break a Business<\/a> appeared first on Deal Studio – Automate, accelerate and elevate your deal making<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Are you selling a business that involves a lease? If so, this will be a factor that has significance to a buyer when you go to complete your deal. If your business relies heavily on its location and you don\u2019t own property, then you\u2019ll find the lease will be quite an important consideration for your buyer. By the same token, if you\u2019re buying a business that involves a lease, you\u2019ll want to carefully examine this document and consider how it might impact you and your business. Let\u2019s take a look at some important clauses and terms you\u2019ll want to be\u2026<\/p>\n","protected":false},"author":105,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-3974","post","type-post","status-publish","format-standard","hentry","category-seller-articles"],"blocksy_meta":"","yoast_head":"\nLeases: Key Considerations That Can Make or Break a Business - Sunbelt Canada Atlantic<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Leases: Key Considerations That Can Make or Break a Business\" \/>\n<meta property=\"og:description\" content=\"Are you selling a business that involves a lease? 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