Looking For A Commercial Property To Lease? - Here's Your Checklist
Looking For A Commercial Property To Lease? - Here's Your Checklist
You want to start your own business? You have planned on the nature of business which you want. You want to start it right at this very moment...
Now that you have made a decision that it is the best time to open and serve in the market that you've chosen, it's best to make sure that everything is ready. Finances: check. Suppliers: check. Manpower: check. Location of business: none yet. Oops! You have missed one important factor when starting your business. Yes, the commercial space.
In the current economic condition that we are in, it is more effective to rent a commercial property for your business rather than to purchase, that will entail higher cost and will take longer to find. To get the most advantage from renting a commercial property, take into account the hints below:
Size
The size of commercial space that you want to rent must be proportional to the size of business that you would like to start. You must consider the number of people that needs to be accommodated in the business. Always take into consideration not just the present, but the potential development, which will also mean extra need for space. Remember that some commercial properties offer provisions for expansion in case needed.
Budget
Generally, a smaller office will cost less than a larger one. A commercial space in a city will definitely have a higher rent compared to a space in an urban area. Will there be deposits or extra charges? Having these in your mind, you will surely need to examine your budget before you sign that leasing agreement.
Location
The location of the commercial space should be suitable for the business that you've in mind. You should take into consideration the clientele that you are planning to cater for. The proximity to the clientele or your market should specify the selection of office address. Safety, accessibility and convenience are the 3 most important things that must be taken into consideration in selecting your commercial space.
Contract
Most, if not all leasing agreements of business or commercial spaces are normally longer in comparison with residential ones. Ensure that the appropriate terms are mentioned and well-defined on the contracts between you and the property owner. Most agreements are subjected and opened for evaluation at a specific time, during which the modifications on the agreements may be discussed and amended based on the parties' discussions.
Parking
At this point in time, cars are taken into consideration an absolute necessity. Ensure that your commercial space may have a safe and large parking area to accommodate all your clients and staff.
Amenities
Is the air conditioning system sufficiently good? Will you need to improve the lighting or internal design to fit your business? Will you be renting a fully furnished commercial space or do you need to bring in equipment and furnishings? These are queries that may help you decide if a place is good for your business.
Security
Are the fire escapes, fire sprinklers and fire alarms working properly? In the case of emergencies, will the evacuation paths lead your people to safety? It is very important that you make sure to check for the safety compliance records of the commercial property, not only for your own protection, but for your clients and staff also.
Now, have you completed your checklist? Those already mentioned are just some basic things that you need to consider before you sign and agree on that leasing contract. Choosing a commercial space may sound simple, but surprisingly, the success and development of your business, could depend on your choice of commercial space. Happy Renting!
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