Prince Edward Island Commercial Lease Guide (Canada)
Commercial Lease Risks in Prince Edward Island
Don't sign a lease in Prince Edward Island until you understand pass-through costs, repair obligations, and common landlord traps.
Not legal advice. Use this as a checklist and discuss with a qualified professional.
Key Things to Watch in Prince Edward Island
These are common commercial lease risks for tenants. Always confirm the exact terms in your lease.
HST on Rent
Budget for HST and ensure the lease is clear on whether amounts are tax-inclusive or stated 'plus HST'.
Variable Cost Budgeting
Net leases can include variable costs like utilities, snow removal, and maintenance. Ask for historical statements and require annual reconciliations.
Common Landlord Traps
- Uncapped pass-throughs: Operating costs, taxes, and insurance can rise year-to-year without a cap.
- Capital replacements billed to tenant: Avoid language that makes you pay for roof/HVAC replacement.
- Short notice deadlines: Renewal and termination rights can depend on strict written notice windows.
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