“One big mistake tenants make is signing a lease without understanding the obligations and consequences provided within the lease. Paying close attention to specific obligations and negotiating tenant-friendly terms is imperative prior to executing a lease,” Benson explained.
Some of the terms that are commonly negotiable in these leases include renewal rent increases, relocation, liquor permit and parking.
While it can be daunting for you to receive a long and complicated lease, it is important that restaurant tenants take the time to understand the terms and negotiate where appropriate and necessary.
“Terms in a commercial lease are always negotiable, and restaurant tenants should seek proper legal advice from efficient and experienced real estate attorneys before putting pen to paper,” Benson concludes.