Signing a commercial lease for your business? Allowing a real estate attorney to review the details of your lease can save you from heartbreak during the term of your lease. An attorney may also suggest edits to the lease that can be in your favor financially. Jo Ann Koontz, Jackie Durham (Koontz & Associates, PL) and Marina Parkin (Koontz & Parkin, CPAs) discuss the issues our clients have experienced while explaining how these situations could have been prevented.
1:00 Lease agreement. What should you be aware of when evaluating a lease agreement?
3:27 Is the landlord listed on lease correct? Are all landlords listed?
5:48 Negotiating longest term and best price possible.
6:30 A lease can allow landlord to relocate your business.
10:14 The scope of maintenance and repair. Who is in charge of maintenance of property?
13:32 If there are repairs required, is the expense deductible?
15:18 Default provisions on a lease agreement.
19:34 Assumption of risk and negotiating out of negligence.
21:25 Obligation to continuously operate in space.
24:31 What to do if owner of property is in default.
29:00 Tenet improvements shouldn't be considered after thought of lease signing.
32:00 Are first and last month rent taxable?
35:16 Creating a lease agreement for your own property if you're leasing the property.
Koontz & Associates, PL | Jo Ann Koontz & Jackie Durham
Koontz & Parkin, CPAs | Marina Parkin