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"what questions to ask before signing a letter of intent to rent retail space"

post #1 of 2
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I have found a space to open up a cake decorating, cookie making and retail cake supplies.  What I don't know is what kind of questions should I be asking from the realtor agent?  What is and isn't negotiable in today's leasing market.  I have never rented commercial space before and don't want the agent or landlord to think I was born last night.  (I was born at night but it wasn't last night!)  Thanks for any input and guidance.

 

Carol

CAKE FIXES EVERYTHING
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CAKE FIXES EVERYTHING
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post #2 of 2

How long a lease and if renewable.    If renewable is there escalator clause  If yes how much?  Are utilities included?   Who responsible for repairs to roof, outer walls, driveways. What amps is electric service 100-150--200  Will corporate signature be enough or does he want personal. Do you have right to change inner premise. How is the place zoned. Make sure he is the registered owner of property Does place heve grease trap in already . (If required very expensive) Is there a hot water heater? is place central air conditioned? And if need be replaced who replaces.  These are ones I think of off top of my head. There are more.  Bargain for rental price or if he wont bend x amount first 6 months  y  amount thereafter. Gives you time to get on yor feet.

Chef EdB
Over 50 years in food service business 35 as Ex Chef. Specializing in Volume upscale Catering both on and off premise .(former Exec. Chef in the largest on premise caterer in US  with 17 Million Dollars per year annual volume). 
      Well versed in all facets of Continental Cuisine...

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Chef EdB
Over 50 years in food service business 35 as Ex Chef. Specializing in Volume upscale Catering both on and off premise .(former Exec. Chef in the largest on premise caterer in US  with 17 Million Dollars per year annual volume). 
      Well versed in all facets of Continental Cuisine...

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ChefTalk.com › ChefTalk Cooking Forums › General Discussions › The Late Night Cafe (off-topic) › "what questions to ask before signing a letter of intent to rent retail space"