Understand the Hidden Costs of Leasing Commercial Space in the Greater Boston Area
When you find a commercial space that you are interested in leasing, the landlord will quote you a yearly per square foot rate. Don’t be fooled into thinking that the quoted rate necessarily represents your total financial commitment. Most leases contain costs in addition to what you pay for the base rent. These extra costs may include:
- Utilities and services such as janitorial, maintenance, electric, etc.
- A portion of the common area maintenance
- Escalation clauses to cover increases in taxes and operating expenses.
You should also be aware of any clauses delineating your rights when it comes to renewing, extending or breaking your lease. A professional tenant representative can help you decipher the hidden costs and conditions in your lease quote and is experienced in negotiating favorable terms for you.