Industrial premises are generally broad terms that can refer to different types of commercial real estate. Typically, these can include such places as factories, warehouses, and commercial establishments that can be converted into office structures to suit a given business venture. In many cases, industrial spaces are rented. Still, it is not entirely uncommon to find industrial lots that are offered for sale instead of being rented out. Industrial premises that fall under the first category typically involve the use of a lease agreement. The lease agreement is the official document signed by two parties, namely the lessee and the lessor, with regard to the use of a particular piece of industrial land. The former is the one who intends to rent the space or piece of land in question. The latter, on the other hand, is the owner of the land who wants to rent this out. Since the land in question is tagged as commercial or industrial in type, it is intended to be used for business purposes. As such, the rate is normally higher, especially when compared to residential lots.Industrial premises are likewise located in special zones to separate and distinguish them from their residential counterparts. Lease agreements involving the use of an industrial space do not follow any specific format. This is generally because industrial lots tend to vary in price range depending on various factors notably location. In other words, when entering into a lease contract, a tailor-made document has to be prepared. Generally, this type of document can be quite complex. Certain provisions can be inserted into the lease agreement which can be rather vague to the average lessee. As such, it is recommended that the details of the contract be explained clearly to the lessee. On the part of the lessor, he or she should make it a point to follow all existing rules that have to do with the preparation of lease agreements. Ideally, the assistance of a legal expert should be sought prior to signing the contract. This is for purposes of clarity and to ensure that the terms being accepted are beneficial to the parties involved. During this period, any unclear provisions should be discussed and resolved accordingly. There is also the issue of the type of lease agreement being offered. Industrial premises that are being rented out usually fall under two general types. The first is the gross lease type where the lessee agrees to have the cost of the utilities, taxes, insurance, and possible repairs on the property included in the contract. The second is the net lease type which provides that the lessee will shoulder all other expenses outside of the rental cost. Joseph works for Oaktree Partnership, a commercial lettings agency in Norfolk. While he isn't working he enjoys blogging and writing articles on tips about choosing the perfect industrial premises for your needs.
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