This is a contributed post.
Renting commercial properties is a significant decision for any business. Whether you’re a startup looking for your first office space or you have an established company and are getting ready to expand operations you need to make sure that you select the right space.
The right property can contribute to the success and growth of your business in a big way. The wrong one can lead to expenses and operational issues. To ensure that you’re making the best choice, take a look at the key factors you should think about when you are ready to rent a commercial property.
Table of Contents
Location
The location of your commercial property is one of the most important factors you need to think about. It can influence just about everything from foot traffic to employee convenience. It may even be a factor in the reputation of your business. You need to think about the type of clients you’re trying to attract.
Do they need easy access to things such as major roads, parking facilities as well as public transportation? You also need to think about the proximity of your suppliers and partners as well. The right location is going to drive engagement from your customers and boost your employee satisfaction too, this is why it’s essential that you get it right.
Space and Layout
When renting a commercial property you need to ensure that the space is suitable for your business operations. Whether you have a retail shop, a warehouse or you’re just looking for an office, the layout should support the specific needs of your business.
You should also take into account any future growth you expect to have especially if you need to expand. Additionally, consider whether the property allows for modifications or customizations to accommodate your operations in the everyday.
You should also be thinking about the security of the property as well. Look at its proximity to crime prone areas, the type of security system that is already in place and also whether or not they have installed roller shutter doors for extra security and protection.
Lease Terms
Before signing a commercial lease you really need to be careful to review the terms and conditions. Pay attention to the length of the lease that you’ll be getting, look to see if there are any rent increase clauses.
You also want to know if you will be responsible for repairs and maintenance as well. Some landlords may offer you incentives such as rent-free months to do this, especially if you want to have a longer term release.
Be sure you fully understand the cost involved in renting the property. Think about property taxes, utilities as well as insurance.
Security
Security systems are critical for any business especially if you’re storing valuable items or sensitive information. You have to make sure that you think about the security of any place that you are renting.
Your business may very well be at stake. Don’t be afraid to ask hard questions before you sign off on a lease agreement.