COMMERCIAL LEASE

Step 1: Determine Your Business Needs and Budget

Before searching for a commercial space in Nova Scotia, define your business requirements. Consider the size, location, zoning regulations, accessibility, and amenities needed for your operations. Set a clear budget, factoring in rent, property taxes, utilities, insurance, and maintenance costs.

Step 2: Search for Commercial Properties

Look for available commercial spaces on platforms like Realtor.ca, Kijiji, and Property Management Company websites (e.g., CBRE, Colliers, Cushman & Wakefield Atlantic). You can also work with a commercial real estate agent like us, who specializes in leasing and can help negotiate favorable terms.

Step 3: Contact the Landlord or Leasing Agent

Once you find a potential space, reach out to the landlord or leasing agent to discuss lease terms, included services, zoning regulations, and any additional costs. Schedule a site visit to inspect the property, check for required permits, and ensure it meets your business needs.

Step 4: Review and Negotiate the Lease Terms

A commercial lease is a legally binding contract, so review it carefully. Key aspects to consider include lease duration, rent structure (fixed or percentage-based), maintenance responsibilities, renewal options, and exit clauses. You may want to consult a real estate lawyer to ensure the terms align with your business goals.

Step 5: Secure Financing and Sign the Lease

If needed, arrange financing to cover initial costs like security deposits, renovations, and equipment setup. Once the lease is finalized and signed, ensure you receive a copy of the agreement and understand your obligations as a tenant.

Step 6: Obtain Necessary Permits and Insurance

Depending on your business type, you may need zoning approvals, business licenses, or health and safety permits. Additionally, secure commercial property insurance to protect against liabilities, property damage, and business interruptions.

Step 7: Set Up Utilities and Business Operations

If utilities are not included in the lease, arrange services like electricity (Nova Scotia Power), water, internet, and waste disposal. Plan for any necessary renovations or modifications to the space before officially opening your business.

Step 8: Understand Tenant Rights and Responsibilities

Commercial leases in Nova Scotia are governed by contract law, not the Residential Tenancies Act. This means tenant protections vary based on lease agreements. If disputes arise, legal counsel or commercial real estate mediators can help resolve conflicts.