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Lease Agreement

If you are just starting out as a small business owner, then chances are good that you will need to enter into a lease agreement, and probably on more than one occasion. Perhaps you will have to rent space for your business, or maybe you'll need to sign an equipment lease agreement. Before you go ahead and sign the papers, read on to learn more about lease agreements and what you should know about them.

What is a lease agreement?
A lease agreement is a legally binding document between two parties. The most common form of lease agreement can be found between a landlord and a tenant with a rental lease agreement. However, lease agreements can take many other forms, especially for small business owners. You might lease a building for your business, or you might lease equipment required to run or start your company. Whatever the reason for entering into a lease agreement, you need to know a few things about lease agreements to ensure that you are getting exactly what you want and need.

Read your lease agreement carefully
There are many important parts of any lease agreement, and, depending on what kind of lease agreement you're signing, there are certain things you should look for before handing over your autograph. First, make sure that you have read all of the terms of the lease agreement. Otherwise, you may do something to allow the landlord to break the lease. For example, a commercial rental lease may have a provision in it that states that you if you want to renew the lease, you must provide one year's notice to the landlord. If you haven't read the terms of the agreement, you won't be aware of this and may miss the deadline to renew the lease, something that can adversely affect your business.

Benefits of leasing
Are you starting a small business and need to locate space for your company? Leasing space is a great idea because of all of the benefits that come with signing that lease agreement. For example, if you are just starting out, you may not know what size of space you require. Signing a short-term lease agreement is a good way to get started without tying yourself into the space for good. Instead, if your business is growing at a rate that requires a larger space, then after your short-term lease expires, you can simply walk away from that space and find a more suitable one.

Other benefits of a lease agreement include being able to sign up without having lots of capital your endeavor. Let's face it - new business owners do not have a lot of money sitting around waiting to become collateral. With a lease agreement, you won't need to put a lot of money down, as you would have to do in a sale agreement. This allows you some financial freedom, rather than having all of your money tied up as collateral for a loan.

There you have it - some simple, yet effective advice on signing a lease agreement. The benefits of lease agreements are vast, so make sure you can reap the rewards of a lease agreement by signing one that is best suited to your needs.

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Access Equipment Leasing

3972 Barranca Pkwy
Irvine, CA
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