ABA Family Legal Guide

Forming and Operating a Small Business

Starting a Business

Commercial Leases

What is an option for additional space?

An option to lease additional space allows the new business to lease only the amount of space it needs, with the protection of being able to increase the amount of space when and if it is needed. The advantage of an option is that you are not obligated to rent the additional space unless you want to. An added protection is a clause specifying the rent (or at least the maximum rent) for the additional space.