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What expenses can you expect when leasing?

Business owners in Georgia like you will likely have to deal with leasing public space in order to get your venture rolling. Naturally you’ll be facing the price of the lease itself, but what other expenses are in store?

According to the U.S. Small Business Administration, there are several lesser known expenses that come along with leasing a public space. Have you thought about potential repair or maintenance costs? You should, because you may be responsible as the tenant for fixing any damage done to the property. Upkeep such as lawn maintenance, painting and other aesthetic factors may also be left to you. In other cases you might be tasked with handling certain building systems such as plumbing or air conditioning. This is different from residential leasing, where the landlord is the one who takes care of these problems.

You will also face extra expenses like utility fees, maintenance fees, and Common Area Maintenance which just means that you have to keep up the maintenance on shared facilities as well. You should always ask how these fees are measured before signing anything. For example, are they mentioned by square footage? Is it determined individually, based on each item in the fee set?

Knowing the policies and fees of any leasing agreement is the key to being happy with it for the duration of your stay. Otherwise, you might get some extra fees that you weren’t expecting later down the line, which could upset your entire financial system if you aren’t prepared.

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