Pay attention to the fees section of your business lease
Before you finalize any of your business contracts and leases, it is vital to make certain that you understand every word and every term appearing in the document. Failure to understand what you are signing off on can sometimes be detrimental to your operating expenses. For instance, signing a business lease for a commercial space is not nearly as straightforward as you may think. Often, these documents contain language with which many business owners are unfamiliar. A prime example is the term CAM fees
. It stands for common area maintenance fees, but some entrepreneurs have no idea exactly what they are paying for with these fees. Below, we have provided a brief explanation of CAM fees. Many entrepreneurs in Cincinnati choose to lease space in a complex populated by other businesses. This gives them free access to potential clients who visit the premises for other reasons. In most cases, these complexes feature one or more common areas that all tenants share. Commercial business leases nearly always contain terms detailing how tenants pay for the use of common areas. Our lawyers have seen many instances in which the owner of an Ohio property charges unfair CAM fees. Often, this occurs simply because they know their tenants have a poor understanding of such fees. Sometimes, a lease’s CAM fees remain fixed, but other times, the landlord can raise the fees as he or she sees fit. This means that you run the risk of paying more than you are getting in return. If you are signing new business contracts or leases, we urge you to have a professional review your documents
. This is the fastest and perhaps the easiest way to ensure that your lease is fair to all parties. Please continue browsing for more about contracts and leases for entrepreneurs.