eSignature Legitimacy for Facility Rental Agreement in Canada

How to eSign a document: e-signature legitimacy for Facility Rental Agreement in Canada

are you getting ready to sign a lease for your business before you do watch this video [Music] for your business so recently I went through the process of negotiating a lease agreement from my Healthcare Training School hero Institute located in Marietta Georgia I want to share with you a few things that we meaning me and my attorney found to be very strange or needed a little negotiation now I want to premise this video with the following statement I am not an attorney this is not legal advice I highly recommend you seek professional consult prior to signing or negotiating a lease agreement all right now we got that out of the way let's get to it number one determine if you can request a delay in your rent payment this may be for a few reasons for instance your space may require build out you may need preparation for your business things like that this can take a few months trying to coordinate contractors and Etc you may need City clearance a certificate of occupancy all that type of stuff any type of approvals you need from an accrediting body such as a healthcare training school I was able to negotiate three months delayed rent while I got my space prepared you know like my walls and everything put up and while I was waiting for approval through the post-secondary education Commission in order to even operate my school however in delaying my rent payments did extend my lease term by three additional months I don't know about you but I'd rather not spend money while I'm not making any money right okay number two think about your business needs and ensure that the location actually accommodates those needs as an example we needed a hot water heater to ensure that our students had hot water to you know wash their hands or simulate bathing things like that that's a federal requirement for our program the location didn't have water heater didn't have one at all and I would have missed that had I never asked about that so think about what you need and ask what do you need that needs to be in place in order for you to operate number three I was not given the opportunity to inspect my space at all until I was actually ended and signed the lease and if that was the case I wouldn't be able to place any claims about things things that I found we asked for time and was actually given 30 days after signing our lease agreement to assess the premises to ensure that everything actually was intact so what did I do during this time well I didn't know what I was looking at or what I was even looking for so I brought in Specialists to do that for me I brought in an HVAC specialist to look at the system a fire inspection company and an electrician to inspect the location they found the following issues the HVAC had no freon and it actually had a leak the fire inspection company found that there was only one fire extinguisher and it hadn't been inspected in over a year so it needed retagging and electricity was all to the good so that wasn't a problem oh but the water heater that they promised to put up guess what it wasn't even there so I had to submit a new request to get that placed so be sure to do your due diligence there number four my attorney found a clause in the ability to terminate the lease due to the inability to operate now covet has taught us things can happen in business and you have to be ready and you can be affected as an owner my lease had a clause which stated that I could not break my lease for up to six months in the event I am unable to operate so think about natural disasters War a plague anything like that I would have had to stay in operation also there was a clause that stated if there was damage to 25 of the space or more and it prevented my ability to operate I couldn't break my lease for up to six months now we negotiated for two months and I would be able to break my lease in the event of any of these issues so I thought that was super important and I was so glad that my attorney brought that to the Forefront number five the lease stated that the management company had the ability to alter my location common areas or modify any rules or regulations in the lease at their Leisure no notice provided my attorney had them right in the contract that they must alert me prior to any changes at least two weeks prior to the change and if those changes altered my ability to operate my business I could break the lease again something I would have never thought of to negotiate so my attorney really helped there number six we negotiated a build out budget that's right if you don't ask they're not going to offer so looking at the space I could immediately tell I'm gonna have to build this out in order for it to be visually appealing now the lease did not have any lead way for the building alterations so I asked if they were willing to offer and guess what they came back with seven thousand dollar building allowance which I do have to pay for upfront after everything is all done I can submit to the landlord my receipts for reimbursement major win I plan on posting my before and after the space so that you can all see exactly what I mean if you didn't get anything from this video please remember to hire an attorney to review your lease mine costs about nine hundred dollars but the build out allowance paid for that think about it it's so worth it best wishes to you and your brick and mortar business Endeavor I know it's scary to sign a lease with no real customers yet but I have faith in you and you should have faith in yourself and your abilities coupled with your planning and you will never ever fail thank you for tuning in I'm Victoria Randall your pusher pushing you to be the entrepreneur you are destined to be [Music]