Commercial lease agreements
If you are planning to open a business and you don’t own premises where you can provide your services, you will have to rent part of a building and sign a lease agreement. You will either sign a new lease agreement or take over an existing one.
What type of lease should you choose ?
A TRADITIONAL COMMERCIAL LEASE AGREEMENT
The most common type of retail lease is the nine-year commercial lease agreement.
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SHORT-TERM LEASE AGREEMENT
This type of agreement is interesting for temporary shops, pop-up stores, and businesses that only want a lease for one year maximum.
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JOINT TENANCY
This type of lease covers shared space and the rent is split with another retailer.
Note: this concept is not defined in law. If you are interested in this option, you will have to find a formula that complies with the lease contract and the needs of the owner and of the tenants.
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Do you need help with your commercial lease agreement ?
It may be helpful to get a legal opinion on the lease before you sign, for example, in case either you, or the lessor, add special clauses.
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What is key money ?
Key money is an amount the tenant agrees to pay at the time the commercial lease agreement is signed.
Key money can be viewed either as an addition to rent paid in advance, or as the valuation of a range of items: works, location, building characteristics, etc. It shouldn’t be confused with goodwill.
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