Are you looking at commercial real estate for lease on Maui? As you should know by now, it is not as easy as renting a residential property. For that reason, we put together this article with important questions that you can ask yourself before signing your lease.
Did You Read The Contract And Do You Understand It?
Yes, we know that the contracts are normally long and difficult to read, so you might prefer to skip over them. When signing a contract to lease a commercial real estate property on Maui, we suggest that you take the time to read the contract carefully.
If you do not understand or feel unsure, ask! Landlords sometimes make use of a standard contract that could exclude your specifically agreed-upon terms, or the words could contradict each other.
Ensure that the lease start and end date is correct and that the amount you agreed upon is correct. Is there any mention of how you can escalate any problems during the lease? You should also confirm the responsibility of the landlord and yourself and the contract termination procedure. We know it is a mouthful, but we at Hi Vision Properties are experts in the field and can definitely assist you!
Do You Have The Best Deal?
Just because you got the lease contract doesn’t mean that the deal is concluded. If you are looking at the contract and think that this is not the best deal for you, then make a list of things that bother you.
At Hi Vision Properties, we believe in a win-win for everyone. We do not want you to walk away from a deal feeling unsatisfied. Let us work with you until we find a deal that is a win-win for you and the landlord.
Can You Sublease The Property?
There might be cases where you are looking at a commercial property for lease on Maui that is bigger than you need for your business. You might want to lease parts of the building to a sublessee. Find out from the start if you have the ability to lease the property to someone else.
What Is CAM Terms And How Does It Affect You?
CAM stands for Common Area Maintenance. You need to pay a fee based on the percentage of the building you are renting. Some landlords might work this amount out based on the number of people currently occupying the building rather than the percentage of the building that you are occupying.
Ensure that you are paying the correct amount and not for things such as the landlord’s marketing or legal fees.
It Is Not A Fixed Thing
When it comes to a commercial real estate lease, you should remember that it is not a fixed thing, and one size doesn’t fit all. Each contract will be different based on your and the landlord’s needs.
You have the flexibility to design and agree upon terms that provides a win-win solution for both parties.