Looking out to lease a commercial property? Well, there’s a lot you have to consider! Commercial properties aren’t any different from other properties when it comes to structuring, but yes, you have to take a lot of care when it comes to leasing one out. So here’s a list of things you need to consider before taking commercial property for rent. Read on:
LOCATION – I highlight this word in bold, capital letters –because you need to understand the impact it has on your business. When leasing a property, keep in mind that you need to have a property in a prime location – it may cost you more, but never mind! The risk will be worth it all – especially when you see your business flourishing quickly and generating ample revenue. A business tucked away in a corner, especially when it’s taking baby steps, is of no use. You need to get the best you can in the budget you have!
- Amount of rent:
Of course, financing the leased property too is an important aspect that cannot be merely brushed aside. In fact, it has to be your prime most focus – will you be able to or are you in a position financially to afford to lease a place like this? You need to set your priorities right and find ways and means to fund the leasing too.
Most of the property leasers hike the rent prices so that they get what they actually want after the prospective lessee (you) negotiate and bargain. So assert your right and negotiate. All you got to do is find the perfect fix between the right location and budget. If you’ve found the ideal location for your office space, you need to bargain as much as you can to get the deal to your terms!
You need to read the contract very carefully. What are the terms and conditions mentioned in it? Do you agree to all of them? If you have any query, raise it right then, right there before signing the dotted line just because you’re excited that you got the perfect place for your business! You never know for what charges and expenses you will be responsible later. Before signing the document, take due care and then finalise the deal.