Leasing is usually a two-step process:
- You start by making an offer to lease to propose your conditions for the space you are interested in. Negotiations usually follow for these conditions.
- Once an agreement is reached, you sign a commercial lease, which sets out the lease cost (usually based on the amount of space) and the negotiated conditions.
What kinds of conditions are covered in the lease?
- The lease term;
- Included and excluded operating expenses (e.g., parking, heating, security, housekeeping services, etc.);
- Responsibility for leasehold repairs and improvements;
- Responsibility for property taxes and public utilities;
- Items covered by the lessor’s insurance;
- Subletting options for all or part of the leasehold.
Before you sign your lease, have it reviewed by a lawyer, accountant, real estate broker or building inspector. A Montréal International advisor can refer you to a trusted professional.
Alfredo Gomes-Simoes – Executive Vice-President and General Manager, Real Estate Broker NKF Devencore
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