Our friends at ClassPass recently posted an article on their blog, After Class, covering the topic of commercial studio space and some thoughts on how business owners should best negotiate the lease. Here's an exerpt:
If you’re signing a long-term lease, there is likely an escalation clause in there, where the landlord raises your rent to pay for increased building costs. While this is a valid clause, you want to be sure to put a cap on the amount it can increase year to year. (Experts suggest no more than 5 percent of total rent annually.)
The article also covers quick insight on points to consider while negotiating the best lease possible including lease length, reading the fine print, and doing your homework. Click here to read the full article on After Class.
Looking for additional insight? We can help!
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