Commercial lease for beauty shop questions

[David M.]

Hi everyone

I'm renting a 420 square foot retail space as a beauty salon.  It was operated as a salon by the previous building owner.  I fixed/ freshened it up and have found a tenant to lease it.

1. How long should the lease term be? 

2. How should I build in rent increases?

3.  How Should I calculate rent increases over time ( pre-set amount, %age, use CPI data) ?

4.  Should I switch to 30 day terms at any point ( say after a 3 year lease term)? 

5.  Anything I'm missing?

Thank you!