Top 12 Mistakes Tenants Make When Leasing Space (part 3 of 12)

#3 Most Common Mistake

Underestimating Upfront Costs

Not having enough cash budgeted and available for soft costs and build out. Initial rent and security deposit, legal fees, architectural design, licenses/permits all must be considered as well as the hard costs of building out a space. Be prepared to get several estimates and a realistic picture of upfront costs before signing a lease. Have financing in place so delays don’t arise due to not being able to complete the work needed to open for business.