Real Estate Lease Checklist

After you have chosen a particular site, check the following points before you sign the lease:

• Is there sufficient electrical power? Enough electrical outlets?
• Are there enough parking spaces for customers and employees?
• Is there sufficient lighting? Heating? Air conditioning?
• Do you know how large a sign and what type you can erect at your facility?
• Will your city's building and zoning departments allow your business to operate in the facility?
• Will the landlord allow the alterations that you deem necessary for your business?
• Must you pay for returning the building to its original condition when you move?
• Is there any indication of roof leaks?
• Is the cost of burglary insurance high in the area?
• Can you secure the building at a low cost against the threat of burglary?
• Will the health department approve your business at this location?
• Will the fire department approve the operation of your business at this location?
• Have you included a written description of the property?
• Have you attached drawings of the property to the lease document?
• Do you have written guidelines for renewal terms?
• Do you know when your lease payment begins?
• Have you bargained for one to three months free rent?
• Do you know your date of possession?
• Have you listed the owner's responsibility for improvements?
• Do you pay the taxes?
• Do you pay the insurance?
• Do you pay the maintenance fee?
• Do you pay the utilities?
• Do you pay the sewer fees?
• Have you asked your landlord for a cap of 5 percent on your rent increases?
• Have you included penalty clauses in case the project is late and you're denied occupancy?
• Have you retained the right to obtain your own bids for signage?
• Can you leave if the center is never more than 70 percent leased?
• Has a real estate attorney reviewed your contract?