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What do you know about leasing a commercial property?

On Behalf of | Jun 18, 2020 | Commercial Real Estate |

While current events may have changed how companies do business, business owners still need spaces to serve as a safe base of operations. You want to lease a commercial property, but you have no experience doing so. Can you be sure you do everything the right way?

Forbes offers tips for leasing a commercial property. Know what to look for to better ensure you find a property that suits your needs and your employees’ and customers’ needs.

Know your long- and short-term goals

When leasing a commercial space, consider your immediate and long-term goals. Depending on where you see your business in the next several years, the commercial space you consider may not be big enough for your eventual expansion. You do not want to trap yourself in a lease for a commercial property that does not fit your most-current needs.

Look out for hidden fees

As you look over the lease, keep an eye out for hidden fees. Landlord fees range from advertising, percentage rent and administration fees to commercial insurance policies. Have a legal professional go over the agreement with you so you know for a fact you found and know about every fee.

Ask about repairs and maintenance

Consider the cost of maintenance and repairs to the commercial space, ones you have to pay yourself. Unexpected repairs can cost a substantial amount, and you may have to shut down operations until you get everything back to normal. See if you can include repair and maintenance caps in the lease, or at least opt for a commercial space with warranties.

Finding the right commercial property is key to bringing your business idea to life. Understand how to protect your ambitions and peace of mind.